Managing the Financial Burden of Long-Term Illness
Help is available for many patients
cost of treatment for cancer and other diseases that require long-term
care can be high, and many people with such diseases will experience
some financial burden. Fortunately, resources are available to help
patients and their families plan for and manage these financial
Irene Korcz, Ph.D., L.C.S.W., a senior social work counselor in the
Department of Social Work at The University of Texas MD Anderson Cancer
Center, has seen firsthand how treatment costs can siphon off people’s
savings. “Long-term illness has a big impact on a person’s finances.
Many patients’ insurance plans will pay for 80% of their treatment
costs, but that remaining 20% can add up quickly and be quite
expensive,” she said. “And out-of-pocket costs can add up, too.”
Have a plan
If you or a family member is facing long-term treatment, it’s important
to know what that treatment will cost. Talk to your doctor about the
expected costs of treatment, including laboratory tests, imaging
studies, clinical visits, medicines, and in- and outpatient procedures.
If your doctor does not know this information, he or she may be able to
refer you to someone who does. Be sure to consider out-of-pocket
expenses such as child care during treatment and transportation to and
from the hospital.
It is also important to know how you will pay for your treatments.
Review your health insurance policy carefully to find out which costs
your insurance will cover and which ones you will have to pay. Be sure
you know the amounts of your copayments and deductible. You should also
review your income, assets, and expenses so you can make adjustments
and plan accordingly.
Some of the money you spend on medical care for yourself and your
family may be deductible from your federal income tax. See Internal
Revenue Service Publication 502, Medical and Dental Expenses (PDF) for details, but remember that tax
codes are subject to change.
Know your options
A social worker can be a valuable member of your support team. The
hospital where you are being treated may have social workers on staff;
if not, you may be able to find a social worker in your area through a
service such as www.healthgrades.com. In addition to helping you manage
the psychological and social aspects of your diagnosis, a social worker
can help you locate sources of financial support. For example, Dr.
Korcz said, “At MD Anderson, we do a financial assessment to find out
what the person’s needs and financial concerns are. Based on our
assessment, we try to direct him or her to the correct resources.”
Here are just a few organizations and programs whose support may be available to you.
- Government benefit and assistance programs provide financial or other
aid to specific groups of people. For example, Medicare provides health
insurance not only for people age 65 years and older but also people
younger than 65 years who have certain disabilities or end-stage renal
disease (a chronic illness). Medicaid provides insurance for
individuals and families with low income. Social Security programs
provide disability insurance benefits and other forms of financial
support. To find these and other government benefit and assistance
programs that you may qualify for, visit www.benefits.gov or call
- Nonprofit organizations provide many helpful services—support groups,
counseling, and publications, for example. Some organizations also
provide financial support to those who qualify. Groups that can help
you locate the services of nonprofit organizations that fit your needs
include the Cancer Financial Assistance Coalition and Patient Advocate Foundation (800-532-5274).
- Prescription assistance programs, which are usually supported by
pharmaceutical companies, supply medicines for free or at a reduced
cost to patients who qualify. Some organizations that can help you
locate prescription assistance are the Partnership for Prescription
Assistance (888-477-2669), RxAssist,
Additional options for help may become available to you as your
financial needs change. Talking with your social worker on a regular
basis can be the key to getting the support you need.
Finally, it is important to have a good support system in place.
Managing the financial burden and other aspects of a long-term disease
can be stressful; having people to whom you can turn for support can
reduce this stress.
“The main thing is to get support for yourself,” Dr. Korcz said. “It’s
always good to find a supportive presence in your life—family members,
friends, your doctor, or clergy, for example—to help you during your
– J. Munch
talk to your physician, visit www.mdanderson.org/socialwork, call
askMDAnderson at 877-632-6789, visit the American Cancer Society at
www.cancer.org/treatment/findingandpayingfortreatment, or visit the
American Association for Cancer Research at
articles in OncoLog, March 2013 issue:
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