Survey says cancer patients face nearly $33,000 in lifetime expenses due to the disease
The Canadian Cancer Society (CCS) and the Angus Reid Institute released a new survey on World Cancer Day, highlighting the long-term financial impact of a cancer diagnosis on working-age Canadians.
The survey reveals that nearly 80 percent of Canadians between 18 and 64 worry about their ability to save for retirement if faced with cancer-related expenses. These costs include prescription medications, homecare, assistive devices, travel expenses, accommodations, and family care.
According to the Canadian Cancer Statistics report published in December 2024, the average cancer patient faces nearly $33,000 in lifetime expenses due to the disease.
The survey also underscores concerns about job security and career advancement following a cancer diagnosis.
Among working-age respondents, 28 percent believe they would likely lose their job, while 42 percent feel they would miss out on promotions or face demotion due to their condition.
Additionally, 66 percent anticipate needing to take significant unpaid time off work for treatment and recovery.
The financial stress extends beyond immediate costs, with lasting effects on long-term financial stability. Almost half of working-age Canadians, at 48 percent, reported frequently worrying about how they will support themselves in retirement.
These concerns persist even without the added burden of a cancer diagnosis.
Stuart Edmonds, executive vice president of Mission, Research and Advocacy at CCS, said the data shows that Canadians believe the immediate out-of-pocket costs of a cancer diagnosis would affect their ability to plan for the future.
He added, “Cancer takes enough from us – it shouldn't also strip us of our financial future.”
Cancer incidence among younger adults continues to rise, adding to the urgency of these financial concerns. In 2019, early-onset cancers—those affecting individuals between 14 and 49—exceeded 1.8 million cases globally, a 79 percent increase since 1990.
In Canada, nearly 40 percent of all cancer diagnoses occur in people between the ages of 20 and 64.
With more people surviving cancer and living longer with the disease, addressing the financial burden of treatment and recovery remains critical to ensuring patients maintain a secure financial future.
The survey also examined the financial struggles of individuals already diagnosed with cancer. Among those surveyed, 23 percent reported experiencing substantial out-of-pocket costs, making it difficult to cover daily expenses.
Another 21 percent struggled to pay for household necessities, while 17 percent faced challenges affording rent, and 13 percent had difficulty keeping up with mortgage payments.
For 40 percent of cancer patients, the financial strain of treatment directly impacted their ability to save for retirement.
Shachi Kurl, president of the Angus Reid Institute, emphasized the importance of understanding these financial challenges.
She said that recognizing the concerns of working-age Canadians and the experiences of those affected by cancer provides policymakers and organizations like the Canadian Cancer Society with the data needed to assess what is working, what is not, and what needs to change.
CCS continues to push for policy changes to alleviate the financial burden of cancer.
The organization advocates for measures such as making the Canada Caregiver Credit refundable, reducing out-of-pocket expenses—including cancer drug costs—and implementing job security protections for cancer patients.
CCS also calls for increased investment in cancer prevention, early detection, and addressing shortages in healthcare providers to improve patient care.
By reducing financial barriers, CCS aims to ensure that cancer patients and survivors can focus on recovery without jeopardizing their financial future.
