Results 1 to 8 of 8

Thread: Study: Almost half of new cancer patients lose their entire life savings

  1. #1
    Administrator Islander's Avatar
    Join Date
    16th September 2007
    Location
    Maine, USA. The way life should be.
    Posts
    18,389

    Default Study: Almost half of new cancer patients lose their entire life savings

    Lana Bandoim
    Oct 23, 2018

    • According to a new study published in the American Journal of Medicine, 42% of new cancer patients lose their entire life savings in two years because of treatment
    • The same study found that 62% of cancer patients are in debt because of their treatment.
    • In the US, the total medical costs for cancer are $80 billion.

    According to a new study published in the American Journal of Medicine, 42% of new cancer patients lose all of their life savings in two years because of treatment. The average amount a cancer patient lost was $92,098.
    After tracking 9.5 million cancer patients from 2000 to 2012, researchers also learned that 62% of all cancer patients are in debt because of their treatment, and 55% of them owe at least $10,000.
    Overall, the total medical costs for cancer are $80 billion
    in the US.

    Read more: https://www.insider.com/half-cancer-...errer=facebook

    ➤ Happiness is the frosting on the cake of contentment.

  2. #2
    Veteran Member Mr. Wizard's Avatar
    Join Date
    25th October 2011
    Location
    East coast, USA
    Posts
    2,654

    Default Re: Study: Almost half of new cancer patients lose their entire life savings

    No person should lose their life savings because of illness. But, I wonder who these 42% of "new" cancer patients are because they lost an average of more than $90,000 in 2 yrs. Who has $90,000 to lose? I don't. I don't mean to sound cruel, but these don't sound like average Americans. Last year, when the U.S. government shut down for 2 weeks, I remember all the buzz around a survey that revealed 40% of adult Americans did not have $400 in the bank to pay for an unexpected emergency.

  3. #3
    Administrator Islander's Avatar
    Join Date
    16th September 2007
    Location
    Maine, USA. The way life should be.
    Posts
    18,389

    Default Re: Study: Almost half of new cancer patients lose their entire life savings

    Mr. Wizard, I've read stories of people who have lost their homes to medical expenses. Would the loss of one's real estate raise the value to the reported numbers? Based on what I'm assessed in property taxes, it would in my case!
    ➤ Happiness is the frosting on the cake of contentment.

  4. #4
    Veteran Member grulla's Avatar
    Join Date
    2nd November 2012
    Location
    Grant County, NM
    Posts
    1,399

    Default Re: Study: Almost half of new cancer patients lose their entire life savings

    Quote Originally Posted by Islander View Post
    Mr. Wizard, I've read stories of people who have lost their homes to medical expenses. Would the loss of one's real estate raise the value to the reported numbers? Based on what I'm assessed in property taxes, it would in my case!
    You might investigate "Declaration of Homestead" laws that are legislatively enacted in 27 states in various versions, that can help protect ones legal home(stead) against certain liens and suits, from among others, hospitals. Unfortunately, I see in this TMEN article that NM, ME, and certain other states are not included, so maybe an initiative can be organized in those states: https://www.motherearthnews.com/home...d-zmaz82jazgoe

  5. #5
    Veteran Member Mr. Wizard's Avatar
    Join Date
    25th October 2011
    Location
    East coast, USA
    Posts
    2,654

    Default Re: Study: Almost half of new cancer patients lose their entire life savings

    grulla: Several additional states have adopted homestead exemptions, including New Mexico ($60,000) and Maine ($47,500). Problem is these amounts are so low not much protection is afforded homeowners. But, there's a federal exemption of $25,000 for the few states that have no exemption at all, like New Jersey and Pennsylvania.

    See link below for homestead exemptions by state for 2019:

    http://worldpopulationreview.com/sta...ions-by-state/

  6. #6
    Veteran Member Mr. Wizard's Avatar
    Join Date
    25th October 2011
    Location
    East coast, USA
    Posts
    2,654

    Default Re: Study: Almost half of new cancer patients lose their entire life savings

    Quote Originally Posted by Islander View Post
    Mr. Wizard, I've read stories of people who have lost their homes to medical expenses. Would the loss of one's real estate raise the value to the reported numbers? Based on what I'm assessed in property taxes, it would in my case!
    Excellent point. But, it's a real shame if 42% of new patients are losing their homes. This should not happen in a country with the resources of the U.S.

  7. #7
    Administrator Islander's Avatar
    Join Date
    16th September 2007
    Location
    Maine, USA. The way life should be.
    Posts
    18,389

    Default Re: Study: Almost half of new cancer patients lose their entire life savings

    Exactly. That's why I support universal health care in whatever form is workable.
    ➤ Happiness is the frosting on the cake of contentment.

  8. #8
    Veteran Member Mr. Wizard's Avatar
    Join Date
    25th October 2011
    Location
    East coast, USA
    Posts
    2,654

    Default Re: Study: Almost half of new cancer patients lose their entire life savings

    Below are just a "few" organizations that will help cancer patient pay medical bills:


    • This national non-profit organization offers an assortment of treatment and financial assistance information in person, by phone or through the organization’s website. The organization’s phone number is (800) 813-4673 and its website iswww.cancercare.org.
    • AvonCares Program for Women Fighting Cancer. Offers financial aid to low-income and uninsured women diagnosed with breast or cervical cancer. It is a unit of CancerCare and can be reached at the same phone number and website.
    • Cancer Financial Assistance Coalition. This group provides access to an assortment of national organizations that offer financial aid to those in need. Its website has a searchable database that links to potential sources of financial aid. The database can be found at https://www.cancerfac.org/.
    • The Samfund. Helps adult cancer patients aged 21 to 39 with medical bills, living expenses, medical costs, transportation, as well as housing and legal expenses. The group’s website is http://thesamfund.org.
    • Patient Advocate Foundation. Provides a menu of services for patients with a variety of serious health issues. The website has links to financial aid sources, including an interactive database of available financial resources. The nonprofit’s website also provides information for how to appeal an insurer’s decision on treatment payments and case management assistance. The foundation’s website is https://www.patientadvocate.org/
    • Leukemia and Lymphoma Society. Provides information and financial aid for patients with blood-related cancers. The society, which has chapters around the country, can be accessed at https://www.lls.org/ or by phone at (800) 955-4572.
    • Community organizations. Community-based church and nonprofit services such as Catholic Charities and the Salvation Army can either provide direct assistance or recommend organizations the might. Search for these on line.
    • Crowdfunding websites. Consider using Go Fund Me or other social media sites to appeal directly to others for contributions to fund your medical care

    In addition, there are organizations that will help cancer patients pay their rent and mortgages, transportation services to get to treatment, and much much more. This link shows some of these organizations:
    https://www.debt.org/medical/financi...ncer-patients/

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 1
    Last Post: 10-30-18, 05:45 AM
  2. Replies: 0
    Last Post: 09-19-13, 06:06 PM
  3. Replies: 0
    Last Post: 07-24-11, 09:01 PM
  4. this is hands down the best savings club
    By mykidsmyfammylife in forum General Discussion
    Replies: 2
    Last Post: 05-12-11, 04:33 PM
  5. Replies: 4
    Last Post: 05-07-11, 03:09 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
<<<<<<<< Your Customized Value <<<<<<<<