Managing the Cost of Cancer Treatment

Don't let the high costs of treatment keep you from following every avenue to fight your cancer. A case manager can direct you to sources of financial help.

Many more people survive cancer in the U.S. each year than die of the disease. But that success has left millions with devastating debt.

When you receive a cancer diagnosis, money shouldn’t be top-of-mind. Sadly, even people with health insurance quickly learn that it won’t cover all of their needs. Co-pays and large deductibles take their toll, as do related extra costs for transportation, home assistance, and childcare.

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In one study of patients with advanced colorectal cancer, nearly all of whom were privately insured, almost three-quarters of them faced financial problems within the next year. About a quarter were in trouble within three months of their diagnosis.

In poll data, about two-thirds of adults with debt related to cancer say they cut spending on food, clothing, or other basics, and nearly three-quarters have skipped or delayed medical care. One in four declared bankruptcy or lost their home.

Oncologists call cancer-related stress “financial toxicity,” knowing cancer patients who go bankrupt are more likely to die of the disease.     

The cost of cancer treatment

Cancer treatments have hugely varying costs. But it’s nearly always pricy to treat. The National Cancer Institute reports an average cost of $42,000 for medical care and another $4,200 for drugs during the first year of cancer. Total costs may exceed $1 million.

As costs rise, so do out-of-pocket expenses, even for insured patients. In a study of insured patients too young for Medicare, out-of-pocket costs came to more than $6,000 for patients fighting breast, colon, and lung cancers, with insurers typically paying much more than $100,000.

Medicare has gaps as well. The average leukemia patient with Medicare is on the hook for more than $17,000 during the first year of treatment, the Miliman consulting firm has calculated. At the same time, patients with demanding treatment schedules may need to work less or hire help at home.

How to manage the cost of cancer treatment 

Discuss your options

Talk to your doctor and oncologist about your financial concerns, and make sure you know how much you’ll have to pay for each treatment. While they may not know the ins and outs of your insurance coverage — or even how much treatments cost — they should be able to connect you with a social worker, case manager, or patient advocacy organization.

Tell your doctor: “I’m worried about costs related to my cancer treatment. Can we talk about my concerns?”

Other critical questions include:

• “Where can I get an idea of the total cost of treatment?”
• “If I can’t afford this treatment, are less costly options available?”
• “Is there any way I can get help to pay for this treatment?” (Drug manufacturers often have patient assistance plans to help people pay for their meds.)

Get organized

Becoming well organized can help you gain a sense of control over the information coming at you, including about finances, according to American Society of Clinical Oncology experts.

Develop a filing system to retrieve information easily, create a spreadsheet to track bills and payments, or use an online program or app to stay on top of expenses.

Don’t forget to include unreimbursed medical expenses, including dates of service, amounts paid, and names of your healthcare providers. You may be able to claim those expenses for tax purposes.

Request a case manager

Navigating the health insurance maze can be maddening. The first time you contact your insurance company after receiving a diagnosis, ask for a case manager so you can talk with the same person each time you call. Keep current copies of all insurance policies and refer to them by name and number in any communications about coverage.

Take advantage of available resources 

Many patients don’t realize there’s help available to cover their costs. You can find a list of potential resources at the Cancer Support Community.

Contact organizations directly to learn more about their specific programs and services, including eligibility criteria, and talk with your healthcare team about local resources.

The Cancer Financial Assistance Coalition provides a searchable database of financial resources.

CancerCare's financial assistance programs (800-813-4673) provide limited financial assistance for transportation and childcare and other costs for people affected by cancer.

Don’t be afraid to crowdsource or fundraise

There’s no shame admitting you’re in a bind. People want to help, but they’re often unsure what they can do. Enlist your network to help with costs of groceries, provide childcare, run errands, and handle other daily necessities while you focus on battling your disease.

Sites such as GoFundMe.com, MealTrain.com, and even social networks make it easy to mobilize do-gooders. 

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