Report breaks down costs of cancer by insurance types
Patient costs for cancer care range from nearly $6,000 per year to more than $10,000 depending on where the patient receives health coverage, according to a new report.
The American Cancer Society Cancer Action Network released this week is Costs of Cancer report – its first-ever report looking at the cost of treating the most common cancers under three insurance types.
The report examined at total patient costs (premiums, deductibles, co-pays and co-insurance) for breast, lung and colorectal cancer for people with employer-sponsored health plans, Medicare and plans purchased from the individual exchange.
Treating stage 1 breast cancer costs a person with employee-sponsored insurance $5,819 ($1,844 in premiums, $500 deductible and $3,475 in co-pays and co-insurance).
The same diagnosis will cost a person with an individual plan $10,114 ($3,264 in premiums and $6,850 in co-pays and co-insurance).
Medicare coverage leaves patients with $8,793 in out-of-pocket costs, the majority of which is premiums.
The costs are similar for lung and colorectal cancer treatments, according to the study.
In 2014, cancer patients paid nearly $4 billion out-of-pocket for cancer treatments. Overall, about $87.8 billion was spent that year in the U.S. on cancer-related care.
The American Cancer Society estimates 1.7 million new cases of cancer will be diagnosed this year.