TL/DR –
A new study from the American Cancer Society-Cancer Action Network has found that despite being insured, cancer patients and survivors are accumulating significant debt. The study, which surveyed over 1,000 patients treated for cancer in the past seven years, revealed that nearly half of the respondents have over $5,000 in debt, with almost 70% carrying that debt for a year or more. The research also found that African American and Hispanic cancer survivors were twice as likely to be denied care due to their debt.
New Study Reveals Growing Debt Among Cancer Patients and Survivors
A new study reveals that cancer patients and survivors are experiencing increasing levels of debt, regardless of their insured status. Conducted by the American Cancer Society-Cancer Action Network, the study sampled over 1,000 patients and survivors who underwent cancer treatment within the past seven years.
The alarming findings show that nearly 50% of these individuals are grappling with debts exceeding $5,000. Furthermore, approximately 70% have been dealing with this financial burden for a year or longer.
The study also sheds light on racial disparities in cancer care. African American and Hispanic cancer survivors were found to be twice as likely to have their care denied due to their debt. This disturbing trend highlights the urgent need for comprehensive strategies to tackle the financial burden faced by cancer patients and survivors.
Resources:
For more information on the American Cancer Society-Cancer Action Network and the study, click here.
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