What Are the Key Components of Financial Planning for Cancer?
Financial planning for cancer involves several critical components:
1. Health Insurance: Understanding the scope of your health insurance policy is crucial. Review what treatments and services are covered, and what costs you are responsible for, such as co-pays and deductibles. 2. Out-of-Pocket Costs: Plan for expenses not covered by insurance, including travel, lodging, and certain medications. 3. Income Replacement: Evaluate options like disability insurance or sick leave to replace lost income during treatment. 4. Emergency Fund: Establish or maintain an emergency fund to cover unexpected costs.
