Easing Financial Stress During Cancer Care

Finding out you have cancer is very difficult. Adding to the stress are concerns about how you will pay for treatment. Cancer care can be very expensive--even if you have insurance. It is often a major burden for many people with cancer and their families.

The first step is to understand how much your cancer care will cost, and what your health insurance covers. Below are some tips to get started, and financial resources that can assist you. Remember that your healthcare team is there to help you along the way--and that includes helping you understand and navigate treatment costs.

Get to know your health insurance coverage

It's normal to feel unsure about the details of your health insurance plan. But it's important to understand your policy and know what treatments and services are covered. This will help as you make your way through treatment.

Start out by learning about these 4 key parts of your plan:

1. Coverage and benefits. Review your policy documents to understand the specifics of your plan. Be sure to check for covered services, exclusions, and limitations.

2. Out-of-pocket costs. Deductibles, copayments, and coinsurance are costs that you have to pay. Many plans will have a maximum amount that you can pay each year.

3. In-network vs. out-of-network. To save money, pick healthcare providers in your insurance company’s network. Most companies have an online search tool to help with this. Simply enter the provider’s name to see if they are in-network. You can also call your insurance company to verify which providers are in-network.

4. Pre-authorization. Some services or treatments need the green light from your insurance company before you can get them. Without it, you may end up having to pay the full cost. Talk with your healthcare team and insurance company so you know how to follow the right steps. Your healthcare team is familiar with the pre-authorization process and can guide you.

Open up to your healthcare team

Talking about financial concerns with your healthcare providers might make you feel uncomfortable. But cancer care can cost a lot. And your healthcare team is there to help you. They need to know how these expenses are affecting you. They may be able to choose medicines and treatments that are less costly. And they can also share financial resources that may help.

Ask your healthcare team if there’s someone on staff who can help with financial questions. This may be a financial counselor, navigator, social worker, or case manager. They are familiar with hospital, local, and national resources.

Share any concerns early on in your treatment process. This way, your team has time to look into affordable options. Keep the conversation going throughout your treatment, too. Plans can change, and new options might pop up. Your healthcare team will appreciate your honesty. And they will work with you to find the best solutions. They’re here to support you.

Ask for help when you need it

Sometimes a more expensive cancer treatment is the one that’s best for you. If you need extra help with care costs, here are a few financial assistance options to explore:

Pharmaceutical programs

Can’t afford your medicine? The company that makes the medicine may be able to help. Just ask the manufacturer or your healthcare provider for details. Examples of these programs include:

• Pfizer’s RxPathways ( www.pfizerrxpathways.com)

• Merck Helps ( www.merckhelps.com)

• GSK’s Access Program ( www.gskforyou.com)

Nonprofit support

Do a quick online search for nonprofit groups and charities tailored to your cancer type. Or start here with these organizations:

• CancerCare ( www.cancercare.org)

• Patient Advocate Foundation ( www.patientadvocate.org)

Government aid

You might qualify for programs like Medicaid or Supplemental Security Income (SSI) based on your income. Learn more at:

• Medicaid ( www.medicaid.gov)

• Social Security Administration—Supplemental Security Income ( www.ssa.gov/benefits/ssi)

Build a safety net

A cancer diagnosis can really change your finances. So it’s important to make the most of your money now—and save for the future. Here’s what you can do:

• Stash some cash. Start or grow your emergency fund to help cover any surprise medical bills or income loss that might come your way.

• Check your current status. Take a good look at your finances. Break down your income, expenses, and any debts you may have. This detailed overview can help you identify areas where you might need to adjust your budget and spending habits.

• Explore free online resources. If you’re not sure where to begin, visit the Cancer Financial Assistance Coalition at www.cancerfac.org.

Tackling the costs of cancer care can seem daunting. But know that your healthcare team is there to support you through this journey. Don’t hesitate to reach out to them with any questions or concerns. They can help you navigate these challenges, connect you with valuable resources, and work with you to find solutions.