Bankrupted by Cancer treatment costs

Discussion of cost is one of the criteria that was authored by no fewer than 116 of the country’s leading oncologists related to cost of care that deserves some additional attention from the news media.The authors, who are from some of the most prestigious cancer centers, speak to what is all too familiar to cancer patients and their families: Cancer Treatment can Bankrupt a Family Quickly.  The cost of cancer treatment has escalated to the point that it exceeds the average American’s ability to pay, even with insurance coverage. Out-of-pocket expenses, even with good insurance, can exceed $25,000 to $30,000 annually.  The commentary is entitled, “In Support of a Patient-Driven Initiative and Petition to Lower the High Price of Cancer Drugs.”
Here are some of the rather sobering points made in the commentary:

1. Cancer will impact just about every person in the US either directly or indirectly. It is not disease mongering to point out that 1 out of every 3 will experience cancer in their lifetime
2. Insurance deductibles and co-pays are increasing with subscriber contributions to care commonly in the 20-25% range
3. All of the drugs used to treat cancer approved by the Food and Drug Administration in 2014 were priced in excess of $120,000 per year of use
4. Mean family income in the US is $52,000.                                                                                     The good news is that newer drugs can prolong lifespan and improve the quality of life of cancer patients.  The bad news is that these drugs are rapidly becoming un-affordable to the average American.