37% of breast cancer survivors are still in debt due to treatment, and 23% said the disease nearly bankrupted them. Story from our archives BreastCancerAwarenessMonth
When Molly MacDonald was diagnosed with breast cancer in Spring 2005, she didn’t expect that some of the most harrowing effects of her disease would be financial. But six months into treatment, her house was foreclosed on and she began to rely on food banks as she struggled to support her five children.
She’s not alone. One-third of women diagnosed with breast cancer said they were more scared of how they would be able to pay for treatment than over the cancer itself, a survey of over 1,000 breast-cancer patients by The Pink Fund found. The topic is in renewed focus as October is Breast Cancer Awareness month, a campaign to increase awareness of and raise money for treatment of breast cancer, which affects 1 in 8 women and 1 in 1,000 men.
Dipping into savings or putting costs on credit contributes to financial instability later in life, according to Jean Sachs, chief executive officer of Living Beyond Breast Cancer, a nonprofit in Bala Cynwyd, Pa. “Nobody is prepared for a diagnosis but people are shocked to find when they are diagnosed how expensive it is — even if you have insurance,” she said.
“We try to encourage women to understand health insurance and be an informed consumer,” Sachs said. “Hopefully you are doing that before you’re diagnosed, but after you’re diagnosed it becomes more important than ever.”
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