Discovering The Right Cancer Financial Assistance Program For You
A breast cancer diagnosis can bring overwhelming emotional and physical challenges, and the financial burden is often a significant part of the stress. The Thriving Beyond Breast Cancer financial aid guide aims to help younger women navigate available options to ease their journey.
Grouping The Costs You Will Likely Need To Consider
- Medical Expenses: Doctor visits, chemotherapy, radiation, surgery and medications.
- Support Services: Counseling, physical therapy and home health care.
- Daily Living Costs: Transportation to treatment, childcare and household help.
The Unique Financial Challenges Younger Patients Face
Young breast cancer patients often face unique financial challenges, including limited income as they are still establishing their careers and may have less financial cushion. Time away from work for treatment can lead to lost wages, exacerbating their financial strain. Additionally, they may encounter gaps in insurance coverage, resulting in limited or inadequate support for their medical expenses.
Questions To Ask Your Current Health Insurance Provider
- What Are My Coverage Limits: Understand what is covered and any limits on treatments or medications.
- What Are My Out-of-Pocket Costs: Clarify co-pays deductibles, and any financial caps.
- Do You Offer Financial Assistance Programs: Ask if they offer any internal programs to help cover additional costs.
- On-Site Financial Rep: Many larger cancer centers have a financial representative on staff who can help you navigate insurance and answer some of the additional financial questions that you may have.
What Are “Co-Pay Relief Programs?”
Co-pay relief programs help cover out-of-pocket costs for prescriptions and treatments, specifically targeting conditions like cancer. These programs provide financial support for medication co-payments and usually require documentation, such as proof of income and medical expenses.
CancerCare is perhaps the most prolific co-pay relief program for cancer patients in the United States.
Pharmaceutical & Drug Manufacturer Co-Pay Assistance Programs
The vast majority of chemotherapy pharmaceutical companies offer assistance programs designed to help offset the cost of their medications. You can find a list of these co-pay programs here.
Can Grants Help Me Cover Cancer Treatment Costs?
Yes. Finding grants can be essential for covering cancer-related expenses. Search online using reliable databases and websites to locate grants specifically for breast cancer patients, contact nonprofits that specialize in cancer support, and check local resources such as charities and community foundations that often assist.
The Cancer Financial Assistance Coalition
This organization offers a database of available grants that can help cover specific costs related to cancer treatment. You can search for local grants that may not be easily found elsewhere.
Explore Your Grant Options →
The “Thriving Beyond Breast Cancer” Stipend Program
Our organization educates and empowers young women beyond their breast cancer diagnosis. We know the unique financial difficulties that come with breast cancer treatment firsthand and are committed to providing the support these women need.
Our program offers free expense stipends to help alleviate the financial strain of medical and medication costs, ensuring that they receive the assistance they deserve during this critical time.
Let’s Talk Today →
Cancer Tax Deductions, Credits & Relief
You may be eligible for various tax deductions and credits, including:
- Medical Expenses Deduction: Deduct unreimbursed medical expenses that exceed 7.5% of your adjusted gross income.
- Disability Tax Credit: If your condition impacts your ability to work, you might qualify for additional credits.
- Income Tax Relief: Look into state-specific programs that offer tax relief for cancer patients. For example: Mileage to appointments and costs for seminars related to your diagnosis may be available, while some self-employed taxpayers can deduct their health insurance premiums as an income deduction.
Government Programs That Can Help
- Medicaid: Offers assistance based on income and family size.
- Social Security Disability Insurance (SSDI): Provides benefits if you’re unable to work due to your condition.
- Supplemental Security Income (SSI): Offers financial support for those with limited income and resources.
Predatory Programs:
Scams & Traps To Avoid When Seeking Financing
- High Fees: Avoid programs or organizations that charge high fees for their services.
- Unverified Sources: Only trust information from reputable and verified sources.
- Too-Good-To-Be-True Offers: Watch out for offers that seem unrealistic or promise guaranteed funds.
When To Seek Professional Finance Advising
- You have a complex financial situation involving multiple income sources or assets, or you have undergone a divorce.
- You need help with long-term financial planning and management.
- You need assistance in finding and applying for various aid programs.
- You want additional reassurance that you are handling your situation as responsibly as possible
Additional Financial Education Organizations
- National Foundation for Credit Counseling (NFCC): Provides resources for managing finances and debt.
- Triage Cancer: Free patient toolkits and education on the legal and practical issues that arise after a cancer diagnosis.
- The American Cancer Society (ACS): Exhaustive patient resources, along with various forms of support including transportation and lodging.
- Patient Advocate Foundation: A well-vetted and comprehensive resource directory for breast cancer patients.
- Livestrong: An established encyclopedia of cancer journey knowledge and resources that can be sorted by patient age, source of concern, stage of diagnosis and more.
Disclaimer: We are not financial advisors. We are here to lay out the options and resources available to you as you make the best decisions for yourself moving forward.
About The Author
Bess Hagans is the Chief Executive Officer of Thriving Beyond Breast Cancer. As a breast cancer survivor, she understands the financial strain that comes with a cancer diagnosis. She believes that education is a critical component of empowerment and seeks to leverage her experiences to improve the lives of patients.