By Adam Ratcliffe

Everyone understands the importance of protecting both your physical and financial health. There’s no better feeling than waking up in the morning knowing that you’re healthy, confident, and secure. A sound peace of mind can definitely be attributed to expecting the unexpected and being prepared for all obstacles life throws at you. However, a major health issue such as heart attack, strokes, and heart attacks never come at a good time, often leaving a substantial financial burden long after recovery. Even with a personal health plan, out-of-pocket costs can start to add up. 

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Although less common amongst younger people, a dramatic health event can still take place. According to the American Stroke Association, the incidence of stroke among adults ages 49 and younger in the U.S. has continued to increase over the last 30 years.[1] 

Planning ahead can remedy much of the financial burden a major health problem can put on you. A supplement health policy is one way you can alleviate some of that strain.

Cancer’s effect on bodies, minds, and finances:

Not only can this insidious disease be incredibly detrimental to the patient’s physical health but also their financial health. Moreover, preventative screenings are one way to avoid costs building up, by catching risk factors early can save you money in the long run. 

Cancer Screenings recommendations by age [4]:

Cardiovascular disease is one of the main causes of heart attacks and strokes. Taking control of one’s own health includes getting the recommended screenings and taking steps to control your financial wellbeing. 

• Every 40 seconds someone in the U.S. suffers from a heart attack [5]
• The #1 cause of death for all people in the U.S. is heart disease. [2]
• ~805,000 people in the U.S. each year have a heart attack [5]
• Every 36 seconds someone in the U.S. dies of cardiovascular disease. [6]

There’s an increasing trend in the occurrence of strokes at younger ages, which is of great public health concern. Strokes in younger patients can lead to the potential for disability resulting in a greater lifetime burden for the patients and their loved ones.[7]

An example of one of those burdens are medical bills which can exceed the costs of any other monthly living expenses.

• #1 cause of bankruptcies is medical debt [8]
• 66.51% of bankruptcies are caused by medical issues [9]
• 2+ million people are adversely affected by medical issues [10]
• ~530,000 families go bankrupt due to medical debt [11]

If you are uninsured or looking for low cost options on individual or family insurance, Get a quote here!

For information about Cigna Flexible Choice Cancer and Heart Attack & Stroke policies, click here!

Sources Cited:

1)American Stroke Association Newsroom, February 3, 2022; https://newsroom.heart.org/news/u-s-stroke-rate-declining-in-adults-75-and-older-yet-rising-in-adults-49-and-younger

2)Cancer Facts & Figures 2022, American Cancer Society;

https://www.cancer.org/content/dam/cancer-org/research/cancer-facts-and-statistics/annual-cancer-facts-and-figures/2022/2022-cancer-facts-and-figures.pdf

3) Projections of the Cost of Cancer Care in the United States: 2010–2020;www.nih.gov

4) American Cancer Society Screenings by Age, American Cancer Society; https://www.cancer.org/healthy/find-cancer-early/get-screened.html?gclid=EAIaIQobChMImJD3qsfD9wIV8hHnCh1rgQSAEAAYASAAEgKp0_D_BwE#age

5) Fryar CD, Chen T-C, Li X. Prevalence of uncontrolled risk factors for cardiovascular disease: United States, 1999–2010 pdf icon[PDF-494K]. NCHS data brief, no. 103. Hyattsville, MD: National Center for Health Statistics; 2012.

6) Centers for Disease Control and Prevention. Underlying Cause of Death, 1999–2018. CDC WONDER Online Database. Atlanta, GA: Centers for Disease Control and Prevention; 2018. 

7) Yahya, Tamer, et al, Stroke in Young Adults – Current trends, opportunities for prevention and pathways forward, American Journal of Cardiology, June 2020; https://www.sciencedirect.com/science/article/pii/S2666667720300854

8) “Medical debt is the leading cause of bankruptcy, data shows: How to reduce your hospital bills”, Fox Business.com, October 25, 2021; https://www.foxbusiness.com/personal-finance/medical-debt-bankruptcy-hospital-bill-forgiveness.

9) David U. Himmelstein, et al. “Medical Bankruptcy in the United States 2007: Result of a National Study”, pubmed.gov; https://pubmed.ncbi.nlm.nih.gov/19501347/

10) “Medical Bills: The Leading Cause of Bankruptcy in the U.S., Apex EDI, May 25, 2018; https://apexedi.com/medical-bills-the-leading-cause-of-bankruptcy-in-the-united-states/.11)  American Public Health Assoc study,”Medical Bankruptcy: Still Common Despite the Affordable Care Act”, aphapublications.org, March 2019.