28 May Cancer-Related Financial Toxicity: What You Need to Know
May 28, 2025
A cancer diagnosis brings more than just physical and emotional challenges—it can also lead to serious financial stress. This burden is known as cancer-related financial toxicity , and it affects many individuals and families dealing with cancer. At Triage Cancer, we’re here to help you understand and manage the financial side of a cancer diagnosis, so you can focus on your care.
What Is Cancer-Related Financial Toxicity?
Cancer-Related Financial toxicityis the term used to describe the financial strain that can happen to anyone. Even with health insurance, the out-of-pocket expenses, lost income, and other hidden costs can become overwhelming.
Some people are forced to delay or skip treatment, cut back on basic living expenses, or go into debt to cover their medical bills. Cancer-related financial toxicity can affect your credit, your well-being, and even your health outcomes.
What Causes Cancer-Related Financial Toxicity?
There are many reasons people face financial challenges after a cancer diagnosis:
- High cost of cancer treatment– Treatments like surgery, chemotherapy, radiation, and prescription drugs can be expensive, even with health insurance.
- Inadequate insurance– Some health insurance plans have high deductibles and out-of-pocket maximums, or limited provider networks. Also, you may face a denial of coverage from your health insurance company.
- Other out-of-pocket expenses– Other treatment-related costs could include transportation, parking, childcare.
- Lost income– Some individual who have been diagnosed, and their caregivers, have to take time off, or stop working all together, during treatment, which can lead to a sudden drop in income.
How to Reduce Financial Toxicity
The good news is there are steps you can take to protect your finances while getting the care you need. Here are some tips:
- Understand and Use Your Health Insurance
Knowing how to choose and use your health insurance is a powerful way to reduce financial stress. Start by learning how your plan works and what your rights are. Triage Cancer offers many free resources to help:
- Animated Video, Triage Cancer Explains: Health Insurance Basics
- Quick Guide to Health Insurance Options
- Health Insurance Comparison Worksheet
You can also check out our Webinar: Navigating Insurance & Managing Medical Bills for a deeper dive into understanding your coverage.
- Protect Your Income
If you need to take time off work due to cancer or to care for a loved one, make sure you know your options for protecting your job and income. These may include:
- Using the Family and Medical Leave Act (FMLA) to take job-protected leave
- Tapping into disability insurance to replace lost income
- Exploring if Paid Family Leave (PFL) is an option for caregivers
By understanding and applying what laws and programs you may have access to, you may be able to minimize the impact of lost income during treatment.
- Explore Financial Resources
There is help available. Triage Cancer provides free tools and guides to help you manage your finances during and after treatment:
Also, explore CancerFinances.org , our interactive toolkit designed to help people navigate financial decisions after a cancer diagnosis, including to find financial assistance.
Final Thoughts
Cancer-related financial toxicity is real, but there are steps you can take to minimize its impact. Understanding your health insurance, protecting your income, and using trusted resources like those from Triage Cancer can help you stay financially stable during a difficult time.
If you or someone you love has been impacted by cancer, visit TriageCancer.org to learn more. Our free events, materials, and resources can help you make informed decisions and reduce the financial impact of cancer.
About Triage Cancer
Triage Cancer is a national, nonprofit providing free education to people diagnosed with cancer, caregivers, and health care professionals on cancer-related legal and practical issues . Through events , materials , and resources , Triage Cancer is dedicated to helping people move beyond diagnosis.
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