Financial impacts of surviving cancer
Cancer survivors often incur debt, diminished income, and job issues. This can result from the expense and length of treatment, the period in which a patient's health is seriously compromised, and the difficulties of negotiating with health insurance companies and managed-care providers - all of which may occur simultaneously. Few people escape the financial fallout of surviving cancer. It is estimated that out-of-pocket medical expenses average $35,000 per cancer patient. Fortunately, many hospitals and cancer centers now have case managers to help patients and survivors navigate the payment systems.
Yet, even survivors with good health insurance have reported paying as much as a $750 copay for one cycle of chemotherapy in a regimen that called for six cycles. This, and other costs over and above insurance coverage, can lead to considerable medical debt for a family. The costs of treatment are so high that cancer centers are unable to accept patients who do not have health insurance or other financial resources.
If a patient chooses to be treated at a comprehensive cancer center far from home, medical bills will be accompanied by the additional costs of hotels, meals, and travel, for example. If the patient is the major wage earner, the family income is apt to drop and even cease once vacation and sick time are used up. And the person's spouse may need to take time off work to take care of the patient and the family.
Some cancer survivors are forced into early retirement, which may leave them without health insurance or make it difficult for them to find another job that will provide health, disability, and life insurance. Others, unable to meet the costs of care, have had to file for bankruptcy.
