People with cancer are more than twice as likely to file for bankruptcy as those without, according to a new study in Health Affairs. Medical expenses can be high even for those that have insurance, thanks to co-pays, deductibles and non-covered services. In addition, many cancer patients can’t work so aren’t earning income plus they may have other non-medical expenses like child care and transportation.
Don’t expect a government policy solution anytime soon. So do your best to obtain health insurance and disability insurance and to set aside a rainy day fund.
By David E. Williams of the Health Business Group.