Remission Finds Many Cancer Survivors Financially Burdened

Posted on March 14, 2016 by Disability Help Group

With the advances in cancer treatments, more and more people are surviving their battles each year. With an estimated 19 million people living as cancer survivors by 2024, researchers are starting to take notice of the high financial burden that survival often leaves with a family.

Even with medical insurance becoming more commonplace, the average cancer patient will spend $1,730 – $4,727 per year during treatment. Additionally, many therapies leave patients unable to continue working during treatment due to side effects of medications or recovery time from tumor removal surgery. The financial impact is two-fold: high medical expenses and loss of income.

In a study published in the medical journal Cancer, researchers from the Virginia Commonwealth University School of Pharmacy found that 29 percent of cancer survivors suffered some form of financial problem resulting from cancer. Many of those surveyed (11 percent) had to delay or skip certain treatment due to finances, while several (1.5 percent) went into bankruptcy due to the burden of medical expenses.

These financial woes had a negative impact on more than just survivors’ bank accounts. The study found that the financial burdens of cancer care and survival lead to mental health-related complications such as depression and anxiety. These mental conditions could lead to a diminished physical health and quality of life.

Get the Financial Benefits You Are Entitled to if You Are Fighting Cancer

The Social Security Administration has several programs that can help you out financially if you suffer from a disabling condition such as cancer.

Contact the Disability Help Group to find out more about disability benefits and financial resources for cancer survivors. Call 800-800-2009 to schedule a consultation with our disability advocates.