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Advanced Cancer Can Cause Financial Stress for Cancer Patients

July  21,  2014 in

Cancer patients are especially financially vulnerable when compared to the general population.  This stress is detrimental to the patient’s health and can also negatively affect treatment when the patient does not have the financial resources necessary to make every appointment or to pay for selected treatment regimes.  A patient may have very comprehensive insurance coverage but still be unable to cover all of their medical bills, let alone other expenses.

It is not uncommon for patients and their families to find themselves dissolving assets such as savings and investments in order to cover what insurance will not, but this only adds to the overall financial stress.  Other benefits are sometimes available, such as Medicaid or grants, but the use of such benefits is often restricted and limited to patients who meet certain eligibility requirements.   The availability of unrestricted cash for patients would benefit not only the patient, but also the patient’s family and their course of treatment.

“Cancer patients are two and a half times more likely to declare bankruptcy,” according to a study led by the Fred Hutchinson Cancer Research Center in Seattle and published in the June 2013 edition of the journal Health Affairs.

Read the full article here:  “A Cure for the Financial Stress Associated with Advanced Cancer.”

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