The prevalence of medical debt among cancer patients and survivors remains a significant issue even for those with insurance, according to a recent survey by the American Cancer Society Cancer Action Network (ACS CAN) reveals.
Nearly half (49%) of cancer patients and survivors report being burdened by medical debt, and a staggering 98% of them had insurance at the time the debt was incurred, according to the survey. This indicates that even with insurance coverage, the financial impact of cancer treatment is substantial, leading to long-term debt — 69% of those affected have carried this debt for more than a year, often exceeding $5,000.
Moreover, the survey highlights that medical debt disproportionately affects minority groups, with Black and Hispanic patients twice as likely to report being denied care due to their debt. Black respondents were also more likely to report being contacted by collections agencies (66%) and to feel harassed by them (44%).
Overall, 55% of individuals with debt incurred because of cancer have been contacted by a collection agency, 49% reported that their credit score decreased, and 18% have considered filing for bankruptcy protection. Nearly one-third of the survey’s respondents said they felt harassed by a collection agency, and 47% said the debt impacted their overall mental health.
Hospitals are the most common healthcare provider that cancer patients owe money to, followed by oncologists and other specialists. More than half of all debt is incurred for surgery and imaging, with diagnostic testing accounting for 48%
Demographically, 70% of individuals between the ages of 35 and 44 have incurred cancer debt, and 37% of individuals earning at least $125,000 per year have debt because of cancer treatments. Overall, 35% of cancer patients have been carrying medical debt for at least three years.
