When it comes to protecting your employees—and your business—from the unexpected, cancer insurance is a benefit worth considering. For Arizona employers, especially small and mid-sized businesses, offering this coverage can provide financial peace of mind for your team and demonstrate a genuine investment in their long-term health.
But if you’re looking into adding cancer insurance to your benefits package, you may be wondering: What exactly should I look for in a provider? With many companies offering similar policies, the key lies in understanding the details and making an informed choice that matches your employees’ needs and your budget.
At JC Lewis Insurance Services, we’ve helped Arizona businesses navigate these choices for years. Let’s break down what you should consider when comparing cancer insurance providers.
Why Offer Cancer Insurance?
Before diving into the comparison checklist, let’s clarify why cancer insurance matters in the first place.
Even with traditional health insurance, a cancer diagnosis can lead to significant out-of-pocket costs—copays, deductibles, lost income, travel for treatment, and more. According to the American Cancer Society, the average patient with cancer pays more than $5,000 out-of-pocket per year. For many families, this is a burden they’re not financially prepared for.
Cancer insurance is designed to provide a lump-sum payment or ongoing benefit to help offset these costs. It’s a voluntary benefit, often offered at little to no cost to the employer, but it can make a huge difference in your employees’ lives.
What to Look for in a Cancer Insurance Provider
Not all cancer insurance policies are created equal. Here are the key factors you should consider when comparing providers:
1. Coverage Types: Lump-Sum vs. Expense-Based
There are two main types of cancer insurance:
- Lump-sum policies pay a one-time amount upon diagnosis (e.g., $10,000 or $20,000), giving the policyholder flexibility to use the funds as needed.
- Expense-based policies reimburse specific treatment-related costs like chemotherapy, radiation, or hospital stays.
What to look for: Decide which model fits your employees’ needs. Lump-sum policies tend to offer more freedom, while expense-based plans may better align with certain healthcare plans already in place.
2. Waiting Periods and Exclusions
Some policies have waiting periods (typically 30–90 days) before benefits become available. Others may not cover pre-existing conditions or certain cancer types.
What to look for: Check if the policy offers immediate coverage and how it handles employees with a history of cancer. The fewer limitations, the better.
3. Renewability and Portability
A great benefit is one your employees can count on even if they leave your company.
What to look for: Choose a provider that offers guaranteed renewability and portable policies, so employees can keep their coverage without gaps if they change jobs.
4. Payout Flexibility
Flexibility is key when it comes to how benefits are paid and used.
What to look for: Does the provider offer benefits that can be used for travel, experimental treatments, or everyday living expenses? Plans that give the insured full control over how funds are spent are often more valuable.
5. Premium Costs and Rate Stability
Cancer insurance is typically affordable, but rates can vary depending on the provider, coverage level, and employee demographics.
What to look for: Compare premium costs across providers and ask if rates are locked in or subject to change. Transparency here is essential.
6. Claims Process and Customer Service
No one wants to deal with red tape during a medical crisis. A responsive, empathetic customer service team can make a major difference.
What to look for: Look for providers with a solid reputation for fast claims processing and good communication. Read reviews and ask for employer references if needed.
7. Arizona Market Presence
Working with a provider familiar with Arizona’s healthcare landscape and state regulations is a huge plus.
What to look for: Choose a carrier that is licensed in Arizona and has a proven track record of serving local businesses. Bonus points for providers that offer bilingual support or culturally relevant materials for diverse teams.
How JC Lewis Can Help
We understand that shopping for supplemental insurance can be time-consuming and confusing, especially when it comes to something as serious as cancer. That’s where we come in.
At JC Lewis Insurance Services, we work closely with trusted cancer insurance providers that serve Arizona businesses of all sizes. Our team does the heavy lifting: comparing plans, negotiating rates, and helping you choose a policy that aligns with your goals and values.
We’re here to ensure your employees have the protection they need without overwhelming your HR team or budget.
Ready to Explore Your Options?
If you’re considering adding cancer insurance to your employee benefits package, we’d love to help you find the right provider. JC Lewis Insurance Services is your partner for employee benefits in Arizona, and we’re committed to simplifying the process while maximizing your impact.
Call us today at 707-978-2359, we’ll help you compare plans and confidently choose the best cancer insurance coverage for your team.
Because the right plan isn’t just about protection. It’s about peace of mind.
