Getting cancer can be more expensive than having a baby

By Dr. Ananya Mandal, MDMar 5 2018

According to a recent survey conducted by a charity Macmillan Cancer Support, when compared, getting cancer can be more expensive than having a baby. The survey finds that cancer costs a patient £570 per month not only in terms of direct treatment costs but also indirect costs including lost work days; travel to and from hospitals and clinics etc.

Having a child under the age of 11 years on the other hand costs parents an average of £448.41 per child. Thus cancer causes an extra financial burden of £1,459.08 per year says the charity. For this survey, Macmillan interviewed around 1,600 patients. They found that 83 per cent of cancer patients fared poorly in their finances.

According to the survey, the charity also found that the indirect costs of cancer can be huge and are often unaccounted for. This includes spending money on heating of homes. The survey found that one in five cancer patients feel too cold due to cancer and its treatment and energy bills thus rise by £200 on average annually. Macmillan says that Government could use the Guidance and Claims Bill to protect the cancer patients from going bankrupt. The bill is slated to be presented at the parliament. This could urge the banks as well as building societies to work in the best interests of the vulnerable cancer populations. These could be flexibility in repayments and a fixed interest on loans, credit cards and mortgages and provision of financial help.

Macmillan says that cancer can be crippling both physically as well as financially and such aids are a welcome move. However the charity also finds that only one in ten patients (11 percent) actually disclose their diagnoses of cancer to their banks. Fear of consequences and policy rules often lead to such lack of disclosures.

Lynda Thomas, chief executive at Macmillan says cancer usually strikes when a person is least ready financially. It shakes up both the health and finances of the patients she said. “Without the right support, the sudden financial impact of the disease can be crippling,” she said. She added that these gaps in financial support cannot be met by Macmillan alone and herein comes the Financial Guidance and Claims Bill that could be a unique opportunity for the Government to provide such support services by banks and other financial services providers so that they can “make a positive difference to the lives of people living with cancer.”