The American Cancer Society says that more than 1.6 million Americans will be diagnosed with cancer this year and most of them will not have what is known as Critical Illness & Cancer insurance. Due to today’s high-deductible plans and employees’ soaring out-of-pocket expenses, the exorbitant costs involved in treating a critical illness like cancer can be financially devastating – even with Health insurance in place.
Critical Illness & Cancer insurance as a voluntary benefit can help an employee pay for the many unexpected costs that come with a life-threatening disease. He or she may be suddenly unable to work, need in-home caregiving, or need to undergo expensive treatments. With this coverage, employees will have the ability to pay for these and other expenses, ultimately helping protect their savings and keep them out of debt. As part of our Employee Benefits Department, Haughn & Associates (H&A) can discuss this benefit so that you might offer it as an option to your employees.