While there are more cancer survivors than ever today thanks to major medical strides, the financial impact may linger longer than remission.
A new study shows six out of ten middle-income American cancer survivors say they were not financially prepared for cancer diagnosis and treatment.
Then after treatment:
**** 30% reported debt of $10,000 or more
**** 15% reported debt of $20,000 or more
**** 11% of those younger than 50, or who were diagnosed with Stage III or IV cancer, incurred more than $40,000 in debt
More than half of survivors felt that at least one aspect of their treatment cost more than they expected. They were also surprised by the extent of the direct and indirect expenses not covered by medical insurance.
The study released by the Washington National Institute for Wellness Solutions also found 55% of the respondents withdrew from personal savings or investment accounts to finance treatment. Credit cards were used by nearly half.
The long-term challenges of physical and financial recovery after cancer treatment are undeniable:
**** 44% report less physical strength
**** 31% are less financially secure
**** 24% feel their career prospects are worse
However, nearly 9 in 10 cancer survivors look back on their experience and recognize that at least one aspect of life has actually improved. And, across all ages, genders and cancer stages, nearly half of survivors ranked living a healthy lifestyle a top priority following treatment, up from one-fourth before diagnosis.
Among the support services the survivors recommended are:
• Services of the American Cancer Society, including ACS Hope Club, ACS Reach to Recovery program and ACS Hope Lodge
• Look Good Feel Better
• Grocery delivery services and online shopping, such as Amazon.com
• Cleaning for a Reason
Social media is a tool used by more than one-quarter of survivors to find and share information. Among those who used social media, Facebook was most popular, chosen by three-fourths of social media users.
Good Health to You!!!