Cancer, unlike other diseases, has a very expensive treatment plan, which include chemotherapy, radiation therapy, surgery, and more recently, immunotherapy. Most patients receive a combination of two or more of these therapies. Surgeries can cost up to $65,000; chemotherapy, on a 12-month basis, can cost as much as $120,000. Even radiation therapy is priced near $50,000. The cost for chemotherapy and radiation therapy depends on whether the treatment is delivered in a hospital outpatient department (HOPD) or in a doctor’s office. Getting treatment through the HOPD is considerably more expensive. These prices are conservative. Hidden costs burden the patient: lodging, childcare costs, communication costs, such as copies ...
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...ealth savings accounts (an “HSA”) — bank accounts opened specifically for the management of medical expenses. Similar to the way social security benefits work, this HSA plan would take a small percentage from a person’s paycheck, perhaps 5% or less, and deposit it into the account. Over time, the value of the account would accrue interest just as any bank account would. As an incentive for people to favor this method of health insurance, at time of necessary major medical treatment, the government would match the value in the HSA approximately, say, 20 cents to the dollar. A system such as this one would allow people take control of their health in their own hands. In doing so, people would understand the importance of maintaining their health and keeping a more holistic lifestyle. The average annual medical expenditure of an individual should decrease significantly.
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