Studies have shown that age is one of the most significant risk factors for developing cancer. In fact, more than 60% of people who have cancer are 65 or older. That’s why it’s important to familiarize yourself with cancer, its treatments, and your coverage for those treatments once you begin getting older.
Chemotherapy is the most commonly used treatment against cancer. So it’s worth spending some time to figure out whether you would have coverage for chemotherapy if the day ever came when you needed it.
Continue reading to find that information. Below, you’ll find everything that you need to know about Medicare’s coverage for chemotherapy.
Chemotherapy is a treatment that uses powerful drugs to combat the effects of cancer. The chemicals that are placed in chemotherapy drugs are capable of killing fast-growing cancer cells to a degree that no other treatment options are currently able to match.
There are many different types of chemotherapy drugs available. These can be used individually or in combination with one another. Doctors prescribe personalized chemotherapy regimens to their patients based on what they think will work best for the type of cancer that the individual has.
Original Medicare offers chemotherapy coverage to patients who have cancer. Medicare Part A will cover your treatment if you’re in an inpatient hospital setting. Medicare Part B will cover your chemotherapy if you’re receiving it in an outpatient setting.
This means that you’ll have coverage for chemotherapy whether you receive it in a hospital, a doctor’s office, or a freestanding clinic.
Individuals with Original Medicare need to pay a copayment for chemotherapy that takes place in an outpatient setting. Usually, this means paying 20% of the Medicare-approved amount towards the cost of the services.
It’s also important to keep in mind that your Part B deductible will apply to chemotherapy treatment. So you’ll need to pay enough to cover that before you begin receiving your coverage benefits.
Medicare Advantage plans include all of the coverage that’s found in Original Medicare plans. This means that if you have a Medicare Advantage plan, then all of the information in the proceeding section also applies to you.
However, your Medicare Advantage plan may provide you with additional coverage that isn’t available under Original Medicare. For example, Advantage plans often include coverage for lifestyle support services, such as home health aides, transportation to medical appointments, and meal delivery.
If you believe that having coverage for these things would be worth it, then you may want to look into your Medicare Advantage options to find the plan that’s right for you. Keep in mind; Advantage plans are offered by private insurers, so they can vary considerably in their coverages.
If you’re interested in learning more about Medicare’s coverage for chemotherapy and your options, then consider reaching out to Time for 65. Our partnered licensed agents are Medicare experts and standing by to answer your questions.