The last thing on your mind when managing a cancer diagnosis should be how to pay for treatment. Unfortunately for many cancer patients, the financial burden becomes an immediate and lingering challenge from the onset. Going through treatment is stressful enough, but navigating your medical care as well as out-of-pocket costs can cause additional financial distress and sometimes lead to financial toxicity or financial distress or hardship.
According to the National Cancer Institute (NIH), cancer is one of the most expensive conditions to treat. From copayments to deductibles to coinsurance – a bombardment of out-of-pocket financial obligations can suddenly be in play that will ideally help with your treatment but also unfortunately affect your long-term finances as well. These costs could include overnight hospital stays, outpatient services, appointments, prescriptions, and other treatment-related services.
Make sure you’re prepared from the start and understand what treatments could cost, and that you explore avenues for assistance if you’re fearful about the possibility of financial hardship for you and your loved ones.
Below are some resources to help you navigate your finances during and after treatment.
1) Family Reach
According to Family Reach, 1 in 3 families can’t afford their other basic needs during cancer treatment and need help. This nonprofit program provides rental assistance programs for housing, offers free rides to treatment, and helps put food on the table – all at no cost to you. The mission at Family Reach is to remove the financial barriers cancer patients face so they can focus on treatments.
You can enter your zip code for personalized support in your area or download their financial tip sheets (also available in Spanish) as a helpful resource for managing your bills and talking to your care team.
The HealthWell Foundation is an organization that helps people with chronic or life-altering conditions pay for out-of-pocket expenses that insurance doesn’t cover. This program provides financial assistance for co-pays, health insurance premiums, behavioral health services, travel costs, and more. You can check your eligibility, search for your condition and medications, and apply for grants here.
3) Patient Advocate Foundation
Patient Advocate Foundation (PAF) provides case management services and financial aid to patients with chronic or life-altering diseases. Through PAF, you can apply for financial aid funds, co-pay relief programs, scholarships, and case management services. The website also offers free, extensive resources like directories, brochures, webinars, and interactive tools to help you better navigate any obstacles.
Apply by December 31st, 2024 and see the full criteria here.
Triage Cancer is a nonprofit organization that provides tools and education to navigate legal and practical issues cancer patients and caregivers face during and after treatment. The organization offers free events, materials, educational resources, and access to past webinars that focus on advocacy, financial navigation, and employment rights throughout treatment.
5) American Cancer Society (ACS)
The American Cancer Society has a comprehensive list of programs and resources that can help you with cancer-related expenses. If you’re traveling far for your treatment, ACS can set up temporary lodging for free or at a discounted rate to reduce treatment travel time. You can explore lodging options through Hope Lodge or Extended Stay America to see if there are rooms available near your treatment center.
How to manage your finances
Take the time to organize your finances and include any key family or friends who will be supporting you throughout treatment.
Keep a record of your medical expenses and save all bills and receipts. If you can, automate your typical monthly payments like rent and utilities. Make sure you understand your disability benefits and contact Social Security to see if your cancer diagnosis qualifies you for their Compassionate Allowances program. If you’re experiencing financial hardships, communicate with your care team and they can direct you to more resources, programs, and advocacy groups to ensure you get the care you need.
If you would like to connect with an Outcomes4Me oncology nurse practitioner at no charge through the Outcomes4Me app, using the “Ask Outcomes4Me” button.
