Cancer And The Financial Burden
- By Wayne Lennan
- •
- 03 Aug, 2018
- •
With an estimated 134,000 new cancer cases diagnosed in 2017, there is a good chance that you or one of your family or friends, could be affected by cancer in some way or another.
And with significant improvements in early detection and treatment, experts estimate close to 70% of people diagnosed with Cancer in Australia will live more than five years beyond their diagnosis.
Being diagnosed with cancer can be a daunting time for all affected, but understanding the various costs, both treatment and non-treatment, can help you explore the various options available to you.
Our health care system in Australia is largely publicly funded, but unfortunately this doesn't cover everything. Out of pocket expenses such as those associated with diagnosis, treatment and survival can weigh heavily on individuals and families.
So.... without Trauma insurance, some of us will face the big Financial Burden.
Understanding the overall potential costs, and putting together a sound financial plan, which includes adequate life and trauma insurance, can play a role not just in treatment, but the mental and physical well being of all involved.
Calculating the cost of Cancer...
Calculating the cost of cancer is not easy. There are many variables - doctors and specialist fees, travel and parking, accommodation, prescription and over the counter medication, loss of income, the type and stage of cancer, even where you live, all have an impact on finances.
Emotional & Physical Burden...
It is important to also understand that the impacts are not just financial. They extend to the emotional and physical well being of both the cancer patient and their carer(s).
Financial Assistance...
Being able to plan for the future may lead to less emotional burden for all involved.
There is a common misconception that those with private health funds are covered for doctors, hospital costs, tests etc. However, this is not always the case, as health funds may cover part of the costs of specialists, hospital and tests, but not all.
While costs can be high, there are a number of avenues of assistance. For example, utilising various assistance programs which may be available from foundations like the Cancer Council or Leukaemia Foundation, coupled with government assistance, private health insurance, as well as choosing a Trauma/Life Policy, can all help bridge the financial burden.
Trauma cover can give you the opportunity to create real options in a traumatic time. It can make a contribution towards financial survival by providing a benefit payment which you may use to address a financial shortfall.
And with significant improvements in early detection and treatment, experts estimate close to 70% of people diagnosed with Cancer in Australia will live more than five years beyond their diagnosis.
Being diagnosed with cancer can be a daunting time for all affected, but understanding the various costs, both treatment and non-treatment, can help you explore the various options available to you.
Our health care system in Australia is largely publicly funded, but unfortunately this doesn't cover everything. Out of pocket expenses such as those associated with diagnosis, treatment and survival can weigh heavily on individuals and families.
So.... without Trauma insurance, some of us will face the big Financial Burden.
Understanding the overall potential costs, and putting together a sound financial plan, which includes adequate life and trauma insurance, can play a role not just in treatment, but the mental and physical well being of all involved.
Calculating the cost of Cancer...
Calculating the cost of cancer is not easy. There are many variables - doctors and specialist fees, travel and parking, accommodation, prescription and over the counter medication, loss of income, the type and stage of cancer, even where you live, all have an impact on finances.
Emotional & Physical Burden...
It is important to also understand that the impacts are not just financial. They extend to the emotional and physical well being of both the cancer patient and their carer(s).
Financial Assistance...
Being able to plan for the future may lead to less emotional burden for all involved.
There is a common misconception that those with private health funds are covered for doctors, hospital costs, tests etc. However, this is not always the case, as health funds may cover part of the costs of specialists, hospital and tests, but not all.
While costs can be high, there are a number of avenues of assistance. For example, utilising various assistance programs which may be available from foundations like the Cancer Council or Leukaemia Foundation, coupled with government assistance, private health insurance, as well as choosing a Trauma/Life Policy, can all help bridge the financial burden.
Trauma cover can give you the opportunity to create real options in a traumatic time. It can make a contribution towards financial survival by providing a benefit payment which you may use to address a financial shortfall.