A woman in another state recently shared her thoughts regarding a problem she believes many chronically ill people face. She herself understands what it’s like to need debt relief when a financial crisis arises due to exorbitant medical expenses and other related matters. The woman said that at the time, her main concern was surviving her disease so her children would not be left without a mother. Many Louisiana readers can surely relate.
As a breast cancer patient, the woman quickly learned how expensive chemotherapy, radiation and other treatments are. Her medical care prompted a major financial crisis. To make matters worse, while she faced approximately $50,000 in medical costs, she lost her job and insurance coverage. Increased treatment prices combined with rising deductible costs for patients are two key factors resulting in serious financial problems for many long-term care patients in Louisiana and elsewhere.
It is estimated that nearly two million people will be diagnosed with some form of cancer in 2018. Insurance, income and savings are primary factors that determine whether patients will be able to overcome the financial strains associated with their illnesses. Seeking debt relief support is often helpful and the sooner one does so, the better in most cases.
Obtaining debt relief support before things get too out of hand is often crucial to avoiding permanent negative consequences to needed medical care. Louisiana cancer patients are not the only ones who may be facing serious financial problems at this time. The good news is that most financial problems are temporary and experienced guidance is available.
Source: Chicago Tribune, “Cancer patients are twice as likely to declare bankruptcy“, Tom Murphy, May 22, 2018