If you are a cancer patient dealing with lung cancer, chances are that you already experiencing the financial burden that comes with cancer treatment. Fortunately, your cancer diagnosis doesn’t have to deplete your financial resources.
If you are looking to get a better handle on your finances during this difficult time and find financial help for your medical treatment, here are some tips for managing your finances when you have lung cancer.
Take a Look at Your Income, Bills, and Other Expenses
Prior to receiving your lung cancer diagnosis, chances are that you had a personal budget designed to take care of your regular expenses. Set aside some time to review your income streams, your existing bills (such as your health insurance, mortgage, car insurance, and other necessary payments), and other expenses, like groceries or entertainment. Once you have all of that information in front of you, look over your budget and figure out how you can improve your spending habits. Some questions to ask yourself include:
- What expenses are necessary? What can I not go without?
- What are some of my non-essential expenses? Can I cut down on any of these to pay my medical bills and reduce my financial issues?
- Is there something I can do to bring in more income? Are there any non-essential assets I own that I can sell? Do I have a family member who can temporarily help me?
Creating a comprehensive budget for your personal use can help you better understand where you lie financially and how you can improve your financial situation with the financial resources that you have now.
Look for Financial Assistance
Individuals going through cancer treatment are never alone. There are plenty of sources of financial assistance out there that will help you to pay for expenses that health insurance coverage may not. Here are a few ideas to help you receive the support you need.
- Those who are looking for financial assistance for lung cancer patients may be able to take advantage of unneeded life insurance policies. If you a policy with a life insurance company, you may be able to sell it to a viatical settlement company that will pay you one lump sum for your insurance policy.
- Learn more about government resources that may be able to help you cover the costs if you are uninsured (such as Medicare, Medicaid, or Social Security).
- Reach out to non-profit organizations like the American Cancer Society, which will help you learn more about what financial assistance you may have at your disposal.
Make sure that you do your research and find as many opportunities as you can. There is plenty of support out there!
Be Smarter About Your Spending
While looking for assistance will absolutely help you afford your healthcare bills, you should always be on the lookout for as many savings opportunities as possible. One great area to focus on is your prescription medication.
If your health insurance doesn’t cover your medication, chances are that you are paying quite a bit out of pocket for new medicines and refills. Rather than allowing your finances to take a hit every time you visit the pharmacy, use a service like RX pharmacy to help you locate coupons and discounts on the medications that you need. Every little bit counts.
Having lung cancer can be stressful enough, so it is important that you focus on readjusting to deal with the financial consequences as soon as possible. If you have just received your diagnosis or if you have noticed that you are starting to struggle to pay your bills, use the tips above to help you manage your finances as you navigate treatment.
