A cancer diagnosis can also be a ‘financial double-whammy.’ Here’s what advocates want to change

Cancer is a devastating diagnosis that affects a quarter of a million Canadians every year. Stephen Piazza, director of advocacy for the Canadian Cancer Society, emphasizes the importance of focusing on treatment and informing family members when faced with a cancer diagnosis, rather than worrying about financial burdens. However, a survey conducted for the society revealed that one in five cancer patients struggle to pay household expenses, and 40 percent see their retirement savings dwindle.

While many costs related to cancer treatment are covered by provincial health plans or private insurance, there are still significant out-of-pocket expenses that patients must bear. These costs can include devices, physiotherapy, and travel to clinics, amounting to nearly $33,000 on average over a patient’s lifetime, according to a report by the cancer society.

The financial strain of cancer treatment is a “double-whammy,” with patients not only facing lost income due to time off work but also dealing with mounting expenses. To address this issue, the Canadian Cancer Society is calling for tax changes and other solutions to improve affordability.

In response to these challenges, the society has proposed several measures to make cancer care more affordable. These include changing the Canada caregiver credit to make it refundable, expanding financial support programs, and reducing out-of-pocket costs. Making the caregiver tax credit refundable would provide much-needed financial assistance to patients, particularly those in the lowest income bracket.

Michael Prince, a professor of social policy at the University of Victoria, supports the proposed changes to the caregiver tax credit, noting that cancer patients and their families often face a loss of earnings and significant out-of-pocket expenses. He emphasizes the importance of providing financial support to help alleviate the financial burden on families dealing with cancer.

The federal election has seen commitments from various parties regarding tax credits for caregivers. The Conservative and Green parties have pledged to make the Canada caregiver tax credit refundable, while the Bloc Québecois has expressed a commitment to reviewing the tax credit. The Liberal Party has focused on advancing its National Caregiving Strategy, and the NDP has expressed support for financial supports for caregivers.

In addition to tax credits, experts suggest broadening the view of accommodations for people with disabilities, including those who have faced cancer. Workplace accommodations should be seen as essential for work-life balance for all employees, rather than as special privileges for a select few. Employers, unions, and insurance providers can also play a role in providing support to individuals after their cancer treatment ends, offering services such as oncology nurse guidance and psychological support.

Overall, addressing the financial challenges of cancer treatment requires a multi-faceted approach that includes policy changes, financial support programs, and a broader understanding of accommodations for individuals dealing with cancer. By implementing these measures, we can help alleviate the financial burden on cancer patients and their families, allowing them to focus on healing and recovery.