Financial Health
Cancer is expensive. In fact, it’s one of the most expensive diseases to treat in the United States. According to
the NCI, “cancer survivors usually report higher out-of-pocket spending than people who have not had cancer. Some cancer
survivors report spending more than 20% of their annual income on medical care.”
Financial Health
Cancer is expensive. In fact, it’s one of the most expensive diseases to treat in the United States. According to the NCI, “cancer survivors usually report higher out-of-pocket spending than people who have not had cancer. Some cancer survivors report spending more than 20% of their annual income on medical care.”
Financial Toxicity
It’s not uncommon for those fighting colorectal cancer to face financial toxicity. Financial toxicity occurs when you have a hard time paying for your medical care.
This can apply to direct costs like hospital bills, lab work, and prescription and over-the-counter drugs. Many people also struggle covering the costs related to receiving the treatment, like transportation to/from appointments, traveling out of town for treatment or paying for rent, food, and household bills.
You may struggle with financial toxicity especially if your cancer is advanced, recurrent, or if you have a poor prognosis. Young people are also at greater risk of financial toxicity compared to older patients, as are people in disadvantaged communities.
Financial toxicity isn’t just a problem when it comes to dollars and cents. It may also lead to a poorer quality of life for a patient and their family. Financial toxicity is also tied to increased symptoms, pain, and mental distress.
Financial Toxicity
It’s not uncommon for those fighting colorectal cancer to face financial toxicity. Financial toxicity occurs when you have a hard time paying for your medical care.
This can apply to direct costs like hospital bills, lab work, and prescription and over-the-counter drugs. Many people also struggle covering the costs related to receiving the treatment, like transportation to/from appointments, traveling out of town for treatment or paying for rent, food, and household bills.
You may struggle with financial toxicity especially if your cancer is advanced, recurrent, or if you have a poor prognosis. Young people are also at greater risk of financial toxicity compared to older patients, as are people in disadvantaged communities.
Financial toxicity isn’t just a problem when it comes to dollars and cents. It may also lead to a poorer quality of life for a patient and their family. Financial toxicity is also tied to increased symptoms, pain, and mental distress.
Health Insurance
Health insurance can help cover the cost of care. The Affordable Care Act made health insurance available to all Americans, regardless of pre-existing conditions. Medicare and Medicaid are social programs that extend coverage to those 65 and older, or those who are low-income or meet qualifying conditions. Many others have health insurance benefits through their employers (or a family member’s employer).
Despite the several options for health coverage, many Americans continue to face growing costs, even with insurance. Annual premiums are higher, as are co-pays, deductibles, coinsurance rates, and prescription drug costs.
Health Insurance
Health insurance can help cover the cost of care. The Affordable Care Act made health insurance available to all Americans, regardless of pre-existing conditions. Medicare and Medicaid are social programs that extend coverage to those 65 and older, or those who are low-income or meet qualifying conditions. Many others have health insurance benefits through their employers (or a family member’s employer).
Despite the several options for health coverage, many Americans continue to face growing costs, even with insurance. Annual premiums are higher, as are co-pays, deductibles, coinsurance rates, and prescription drug costs.
Work and Career
Some patients continue working after a cancer diagnosis, and others need to pause or find a different role that accommodates their health needs. Several studies have shown that people with cancer may experience:
The decision to work or not work is up to you, and there are certain employee rights and programs that may help protect you as a cancer patient.
Work and Career
Some patients continue working after a cancer diagnosis, and others need to pause or find a different role that accommodates their health needs. Several studies have shown that people with cancer may experience:
The decision to work or not work is up to you, and there are certain employee rights and programs that may help protect you as a cancer patient.
Disability Insurance
Going on disability can be a tough decision and one that sometimes comes with stigma of its own. But it’s been helpful to many patients who need it. And just like any other aspect of fighting colorectal cancer, if you’re considering applying for disability, you’re not alone.
There are several benefit programs for people who are unable to work due to physical and/ or mental illnesses and disabilities. Disability benefits are for people who have a qualifying disability/disability that keep them from earning wages. If you can’t work due to a cancer diagnosis, or treatment or surgery side effects, you may be eligible for financial support from these programs.
In general, any stage IV cancer or terminal cancer will qualify a person to receive disability benefits.
Patient story
Carole Motycka, Stage IV Survivor
I was diagnosed in April 2016 with stage IV colorectal cancer. I started chemo immediately and as a result, quickly became unable to do my job due to the severity of the side effects of the treatment. I applied for long-term disability from the start and qualified for Medicaid insurance due to my disease's incurable nature. Because of the metastatic status of my cancer, I was approved quickly and began receiving benefits. The benefits continued through the duration of my treatments of chemotherapy, surgeries, and follow-up treatments. I was able to return to work five years after my diagnosis and ended my benefits. From my experience, I would encourage anyone with a late-stage diagnosis to consider applying for benefits. Surviving cancer is hard. We should do whatever we can to reduce stress and allow our focus to be on our treatments, personal mental health, and self-care. Anything we can do to eliminate challenges and lighten the burden of cancer is something I recommend.
JJ Singleton, Stage IV Survivor
I applied for short-term disability as soon as I was diagnosed in September 2015 because I couldn't do my job on chemo. I applied for total disability and SSDI in June 2016 when I found out my cancer was back and incurable. At first it was denied. My mom and I got help from my cancer center’s navigator and got it approved, but it took two months to all get worked out. Having an incurable and terminal diagnosis actually helped fast-track it. I’d tell anyone who is hesitant and/or embarrassed about applying for disability that it’s a normal feeling— especially for me as I was 28 years old when I got on total disability. It made me feel bad, and still does to this day at times, but I try to remind myself these thoughts are normal. Being on disability doesn't take away from me as a person, it actually allows me to put all my effort and strength into the challenges of continuing to fight cancer and live by taking some of the financial pressure and weight off me and my family.
Disability Insurance
Going on disability can be a tough decision and one that sometimes comes with stigma of its own. But it’s been helpful to many patients who need it. And just like any other aspect of fighting colorectal cancer, if you’re considering applying for disability, you’re not alone.
There are several benefit programs for people who are unable to work due to physical and/ or mental illnesses and disabilities. Disability benefits are for people who have a qualifying disability/disability that keep them from earning wages. If you can’t work due to a cancer diagnosis, or treatment or surgery side effects, you may be eligible for financial support from these programs.
In general, any stage IV cancer or terminal cancer will qualify a person to receive disability benefits.
Patient story
Carole Motycka, Stage IV Survivor
I was diagnosed in April 2016 with stage IV colorectal cancer. I started chemo immediately and as a result, quickly became unable to do my job due to the severity of the side effects of the treatment. I applied for long-term disability from the start and qualified for Medicaid insurance due to my disease's incurable nature. Because of the metastatic status of my cancer, I was approved quickly and began receiving benefits. The benefits continued through the duration of my treatments of chemotherapy, surgeries, and follow-up treatments. I was able to return to work five years after my diagnosis and ended my benefits. From my experience, I would encourage anyone with a late-stage diagnosis to consider applying for benefits. Surviving cancer is hard. We should do whatever we can to reduce stress and allow our focus to be on our treatments, personal mental health, and self-care. Anything we can do to eliminate challenges and lighten the burden of cancer is something I recommend.
JJ Singleton, Stage IV Survivor
I applied for short-term disability as soon as I was diagnosed in September 2015 because I couldn't do my job on chemo. I applied for total disability and SSDI in June 2016 when I found out my cancer was back and incurable. At first it was denied. My mom and I got help from my cancer center’s navigator and got it approved, but it took two months to all get worked out. Having an incurable and terminal diagnosis actually helped fast-track it. I’d tell anyone who is hesitant and/or embarrassed about applying for disability that it’s a normal feeling— especially for me as I was 28 years old when I got on total disability. It made me feel bad, and still does to this day at times, but I try to remind myself these thoughts are normal. Being on disability doesn't take away from me as a person, it actually allows me to put all my effort and strength into the challenges of continuing to fight cancer and live by taking some of the financial pressure and weight off me and my family.
Finding Financial Resources
If you’re struggling with financial toxicity, you’re not alone. And there are foundations, nonprofits, programs, and funds set up to support you.
If you’re struggling, here’s what NOT to do, if possible:
We’ve compiled a list of financial resources for you, and ideas for paying for care.
Finding Financial Resources
If you’re struggling with financial toxicity, you’re not alone. And there are foundations, nonprofits, programs, and funds set up to support you.
If you’re struggling, here’s what NOT to do, if possible:
We’ve compiled a list of financial resources for you, and ideas for paying for care.
Scholarships and Grants
We do not offer direct financial support for household expenses, however Fight CRC offers a handful of scholarship programs and a grant through the Kimberly Fund.
Scholarships and Grants
We do not offer direct financial support for household expenses, however Fight CRC offers a handful of scholarship programs and a grant through the Kimberly Fund.
Bankruptcy
It’s an unfortunate reality many patients and caregivers have faced. But, you’re not alone. Before you declare bankruptcy, please reach out to our partners at Triage Cancer to ensure you’ve exhausted all of the resources available to you.
Bankruptcy
It’s an unfortunate reality many patients and caregivers have faced. But, you’re not alone. Before you declare bankruptcy, please reach out to our partners at Triage Cancer to ensure you’ve exhausted all of the resources available to you.
