A recent survey conducted by the Canadian Cancer Society reveals a troubling reality for many working-age Canadians. The fear of a cancer diagnosis extends beyond health concerns, with a significant number of individuals worried about the financial implications. The survey found that nearly 80% of respondents are apprehensive about their ability to save for retirement should they face the substantial out-of-pocket expenses associated with cancer treatment.
Julie Booker, diagnosed with breast cancer thirteen years ago, exemplifies this financial struggle. Despite provincial funding covering a fraction of her expenses, Julie and her family continue to grapple with the lingering economic impact of her diagnosis.
The Canadian Cancer Society reports that, on average, patients incur nearly $33,000 in costs over their lifetime due to a cancer diagnosis. These expenses often include $2,000 monthly for drugs, hearing aids, and wigs, among other necessities. As Julie Booker experienced, the financial burden can be overwhelming.
“We never looked into it because we couldn’t stretch (our budget). It was just not on the table for me.” – Julie Booker
The survey further indicates that 66% of respondents would likely need to take significant unpaid leave if faced with a cancer diagnosis. Additionally, 42% expressed concerns about missing career advancement opportunities or facing demotions, while 28% feared job loss entirely.
Cancer physicians and patient advocacy groups have criticized the delay between Health Canada's approval of new cancer drugs and provincial agreements to cover these expenses. While provincial systems cover many cancer drugs, those taken at home are often excluded. Hillary Buchan-Terrell of the Canadian Cancer Society underscores the challenges patients face due to this gap in coverage.
“It is unfair that in other parts of the country, people don’t have to think twice (about the cost of take-home cancer drugs). We really want to see our universal health care system be more universal and include those costs so people are not paying out of pocket.” – Hillary Buchan-Terell
Ontario's Trillium Drug Program offers some relief for catastrophic drug costs, but it involves extensive paperwork, deductibles, and copayments. For individuals like Julie Booker, these systems can prove burdensome. Even seemingly minor costs, such as parking fees and prosthetic breasts each costing $500, accumulate into significant financial obstacles.
“Being forced to put retirement savings and careers on hold to deal with the immediate out-of-pocket costs of a cancer diagnosis can have lasting impacts long after the cancer has been treated or cured.” – Dr. Stuart Edmonds
Julie Booker's experience highlights the broader issue faced by many Canadians who must prioritize immediate medical expenses over long-term financial stability. Her family's decision to divert potential retirement funds towards her treatment exemplifies the difficult choices many are forced to make.
“We didn’t want to know because it was too much. We were taking funds out of our possible retirement. Now we are in that phase and it is not good.” – Julie Booker
