A cancer diagnosis can cause out-of-pocket costs to surge, even for those with insurance
A recent study has revealed that a cancer diagnosis can significantly impact the out-of-pocket costs for privately insured patients, with costs increasing as the disease progresses. The research, published in JAMA Open Network, found that out-of-pocket costs surged by $592.53 per month in the six months following a cancer diagnosis.
The financial burden of a cancer diagnosis is particularly challenging for younger individuals with private insurance who do not yet qualify for Medicare. While cancer is more commonly diagnosed in older individuals who are covered by Medicare, the study highlights the financial strain that cancer can place on those with private insurance.
The study emphasizes the need for policy reform to address the financial challenges faced by cancer patients. The report suggests the implementation of policies such as paid sick leave to provide insurance continuity and financial assistance, especially for patients with advanced cancer.
The analysis also revealed that out-of-pocket costs increase as the cancer progresses. Patients with stage 0 cancer experienced a $462 per month increase in costs compared to non-cancer patients, while those with stage 4 cancer incurred an additional $719.97 per month in out-of-pocket expenses. The escalating costs are attributed to the more intensive workup and treatment required during the later stages of the disease.
The research utilized medical claims records from the Surveillance, Epidemiology, and End Results (SEER) cancer registry to compare the out-of-pocket costs of privately insured individuals under the age of 65 diagnosed with breast, colorectal, and lung cancer to those without cancer.
In a separate study by the American Cancer Society, it was found that an increasing number of individuals aged 45-49 undergoing colon cancer screening has led to more early stage diagnoses.
