Cancer is most often associated with the physical and emotional effects it has on individuals diagnosed with the disease. Less frequently invoked is the condition's financial impact, one that can prove taxing — if not ruinous — for those ill-prepared to absorb the costs.
According to a new report, two-thirds of cancer survivors (65 percent) did not have sufficient household income to cover treatment-related expenses. And these survivors, two thirds had to withdraw from the personal savings or investment accounts.
The research, "Insights from Survivors: Managing the Personal, Emotional and Financial Impact of Cancer," is one of a series of studies commissioned by the Washington National Institute for Wellness Solutions. Conducted in May 2014 by Zeldis Research, the Internet survey polled 400 middle income Americans who have a household income of between $35,000 and $100,000, had been diagnosed with cancer within the past 10 years, received chemotherapy and/or radiation and were between the ages of 25 and 65 at the time of diagnosis.
