A threat to the financial stability of Canadians

A threat to the financial stability of Canadians


A recent survey conducted by the Canadian Cancer Society (SCC) in collaboration with the Angus Reid Institute reveals growing concern: almost 80 % of Canadians of working age fear that a diagnosis of cancer compromises their financial future.

A cancer diagnosis: a threat to the financial stability of Canadians

Overwhelming costs for people affected

The results of the survey, published on the occasion of World Cancer Day, highlight the economic burden of a cancer diagnosis. Expenses not covered by insurance plans, such as medicines, home care and treatments for treatments, accumulate rapidly, resulting in considerable financial instability.

Some key statistics:

• 80 % of Canadians aged 18 to 64 are worried that they can no longer save for their retirement due to cancer costs.

• The average cost of cancer for a person affected in Canada is estimated at $ 33,000 for life.

• 28 % of workers fear losing their jobs if they receive a diagnosis.

• 42 % think they would be demoted or braked in their professional advancement.

• 66 % expect to have to take many unpaid leave for their treatment and convalescence.

“Cancer already mortgages us sufficiently – it should not dispossess us in addition to our financial future. »» -Dr Stuart Edmonds, main vice-president at the SCC

Concrete impacts on daily life

The survey reveals that people with cancer often have to make major financial sacrifices:

• 23 % paid considerable costs in their pocket, compromising their financial stability.
• 21 % had difficulty paying their rent or mortgage.
• 40 % had to draw from their retirement savings to cover the costs related to their illness.

Mathieu’s story: a fight beyond cancer

Mathieu Michaud, a self -employed worker, received in 2023 a diagnosis of Waldenström’s disease, rare cancer of bone marrow. Unable to work and without insurance, he had to sell his garage and use $ 35,000 of his savings to finance his care and cover his essential needs.

“Receiving a cancer diagnosis is already a shock, but the repercussions go far beyond medical treatments. I spent white nights, plagued by the stress of having any more income. »» – Mathieu Michaud

A call to action to lighten the cancer burden

Faced with these worrying realities, the Canadian Cancer Society offers concrete measures:

• Make Canadian credit repayable for natural caregiver
• Reduce costs for patients (especially drugs)
• Guarantee the safety of employment for people with cancer
• Invest more in prevention and early detection

“Understanding the concerns of Canadians allows governments and organizations to act to change things. »» – Shachi Kurl, president of the Angus Reid Institute

How to act?

Canadians can support this cause by signing SCC petition to reduce the cost of cancer care in Canada: cancer.ca/coutducancer

A cancer diagnosis should not mean a financial ruin. It’s time to act.

Publication Index Health: 2025-02-04

Number of visits since the publication: 18

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