The emotional and physical toll associated with cancer is bad enough, but the financial impact can be just as distressing. Considering that nearly half the population will face a cancer diagnosis at some point (1) and that some cancer drugs can cost up to $100,000 per year, it’s easy to see why cancer affects everyone.
 
Even if you are one of the lucky ones, it’s likely that a friend or family member will be diagnosed with this terrible disease, which can eat into the family finances and reduce everyone’s quality of life. It’s unfortunate that many people have been forced to ask an awful, disturbing question: “What will my family have to do without now that I’ve been diagnosed with cancer?”
 
It’s December, and what that means for those of us in the insurance world is that the enrollment window for major medical plans is currently open. A trend that I’m consistently hearing about from both employers and employees is that higher premiums for major medical are forcing people to choose plans with higher deductibles.
 
Making Allstate Benefits available to employees can be an excellent, cost-effective means of enhancing their existing coverage and keeping more money in their pockets. Understanding that most supplemental benefits products are Section 125-qualified so the premiums can be deducted pre-tax, Allstate Benefits policies provide employers with an exceptional value.
 
Allstate is one of the leading providers of voluntary employee and executive benefits policies. A partial list of details about ourcancer policy is included here:

• A lump sum payment of up to $5,000 is paid upon diagnosis of cancer. For payroll deduction cases, the lump sum payment can also be provided upon diagnosis of any of the covered diseases listed in the last bullet point below.
• Pays actual charges up to $20,000/year for chemotherapy and radiation.
• Pays up to $20,000/year for blood and plasma.
• Pays up to $3,000 for inpatient and $4,500 for outpatient surgeries.
• Pays a wellness benefit of $100/year to cover mammograms, blood tests, and many other screening expenses, which significantly brings down the cost of coverage.
• Covers hospital confinement, lodging, transportation, prosthetics (including wigs), at-home nursing care, hospice care and other expenses.
• Pays up to $10,000/year for new/experimental treatment.
• In addition to cancer, 20 other illnesses and disease types are covered, including muscular dystrophy, multiple sclerosis, rabies, tuberculosis, scarlet fever, epidemic cerebrospinal meningitis, sickle cell anemia, Rocky Mountain spotted fever, smallpox and more.

Benefits are paid directly to the individual, in addition to any other form of insurance that person may have. The payments can be used for non-medical expenses other health insurance might not cover, and the policies are guaranteed renewable for life, though subject to change in premiums by class.
 
Portability is maybe the best feature. What that means is that the plan would still be available to the policyholder at the same rate, even if he or she changes jobs, is laid off or is fired.
 
Considering the end of the year is upon us, it’s a great time to think about how voluntary benefits plans can increase employee buy-in and add to the strength of your organization. To find out more about supplemental benefits plans, please contact me at the number below.

(1) National Cancer Institute website. SEER Stat Fact Sheets: All Cancer Sites. www.cancer.gov. 

Will Brown is the owner of the Will Brown Insurance Agency LLC, and represents Allstate Insurance Company. Brown and his staff offer property, casualty, health and life insurance, as well as personal financial services and Allstate Benefits, one of the nation’s leading voluntary benefit plans. The Will Brown Insurance Agency has a comprehensive protection and investment product portfolio, with a strong commitment to serving families and small businesses in an advisory role. Will Brown may be reached at (910) 599-9071, or by email at [email protected]. To learn more about the Will Brown Insurance Agency, click here.