The New Angus Reid Group survey claims cancer is becoming a financial burden to shoulder for many Canadians.
The Canadian Cancer Society (CCS) said the survey shines a spotlight on the unexpected cost of cancer with a description of the many out-of-pocket expenses that come with a cancer diagnosis.
The survey found that a staggering 90 percent of individuals in Canada feel an unexpected cancer diagnosis would impact their household finances, according to a Cancer Society news release.
The survey said more than two-thirds of respondents said because of the additional monthly out-of-pocket expenses related to cancer care would make it hard for them to manage financial requirements such as paying for monthly household expenses, making mortgage or rent payments, and paying off debts.
The survey said 30 percent believe they would have to go into debt to pay for the out-of-pocket costs of a cancer diagnosis while an additional 10 percent said they would need to ask family or friends to be able to cover the financial costs.
Markedly, 63 percent of Canadians said that the financial burden of cancer-related expenses would also have a significant impact on their stress and mental health.
Dr Stuart Edmonds, executive vice president of mission, research, and advocacy at CCS says that Additional expenditures which was caused by a cancer diagnosis come at a time when all other stressors are high.
Cancer takes a toll on you physically, emotionally, and psychosocially. Adding financial weight to a diagnosis is unconscionable. Although Canadians like to refer to the universal healthcare system in this country, there are still out-of-pocket costs for people going through a cancer diagnosis in Canada.
It also said that a 2021 systematic literature review led by the Canadian Partnership Against Cancer discovered that Canadians were spending an average of $253 per month on out-of-pocket expenses. When that sum is adjusted to 2023, it goes up to $290 per month.
This would take in such expenses as prescription medications, the cost of getting out to appointments, the cost of a caregiver, and other travel. The CCS said every expenditure adds up at a time when patients may be unable to work because of their sickness. It can take between six to 10 months of treatment for some of the most common types of cancer.
The Cancer Society said the challenges around out-of-pocket costs are compounded by the fact that, while we are aware that cancer can affect anyone, it doesn’t affect everyone equally. There are deep disparities in cancer risk, care, and costs that can impact a person’s cancer treatment, outcomes, and overall experience.
For underserved populations, like individuals living in rural and remote communities and families caring for young children facing cancer, the costs can be even greater, said the release.
