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Wednesday, June 11, 2008  

Medicare Supplemental Health Insurance May Be Needed to Cover Cancer Costs

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As more and more baby boomers become eligible for Medicare, they're discovering that those who are unfortunately diagnosed with cancer had better have Medicare supplemental health insurance if they want to get good care.

A recent article at MSN Health has found that treating Medicare patients with cancer has become substantially more expensive in the past 10 years. This means that those who are diagnosed with specific and common forms of cancer - mainly breast, lung, and colorectal cancer - will need Medicare supplemental health insurance if they want higher quality care, and will be relying on cutting edge medications.

Much of the costs are linked to a larger population of older Americans and the increased use of chemotherapy and radiation to treat these cancers. However, a much larger portion of the cost increase is linked to the use of expensive medications that aren't covered by Medicare at all, or aren't covered very well.

For example, in the article a drug used to fight breast cancer called "Avastin" is referred to as costing "about $55,000 a year for a Medicare patient." But with Medicare there's a 20% co-pay, and without Medicare supplemental health insurance that person would need to pay $11,000 a year for the drug.

These costs, alongside fears for the overall integrity of Medicare in upcoming years, has led many Americans to lose hope that they will be able to rely on it should they be diagnosed with a major illness.

Medicare supplemental health insurance can definitely help provide peace of mind for those older Americans who want to plan for the worst, and who don't have a lot of faith in Medicare to provide for their needs as the years go by.

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