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.
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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