·
lose
their entire life savings in two years because of treatment.
·
The
same study found that 62% of cancer patients are in debt because of their
treatment.
·
In
the US, the total medical costs for cancer are $80 billion.
According to a new
study published in the American Journal of Medicine, 42% of new
cancer patients lose all of their life savings in two years because of
treatment. The average amount a cancer patient lost was $92,098.
After tracking 9.5
million cancer patients from 2000 to 2012, researchers also learned that 62% of
all cancer patients are in debt because of their treatment, and 55% of them owe
at least $10,000.
Overall, the total medical
costs for cancer are $80 billion in the US.
Even if you have
insurance, it may not cover all the medical costs associated with cancer. From
high deductibles to large copayments, cancer patients can end up with a huge
stack of bills.
In addition, 40% to
85% of all cancer patients have to quit working while undergoing treatment,
which creates a financial burden that can last for six months or longer.
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