Managing the hidden costs of breast cancer

The financial impact of breast cancer doesn’t end with medical bills. You may spend more time away from work and in doctors’ offices. Paying for living expenses in addition to medical bills can be tough. Many people find their living expenses — for food, mortgage or rent, and utilities — must compete with their healthcare costs.

Thinking about these “hidden” costs ahead of time can help you avoid some of the fear and frustration that financial uncertainty can cause.

Help is out there, though it may take some work and time to find it. Nonprofit- and faith-based organizations may have financial assistance programs for people who need help. Ask questions and do research.

How to get help managing finances

• A hospital social worker or financial navigator can help you understand your health insurance policy and recommend local organizations and resources available to you.
• A health insurance case manager can tell you what information your doctors should submit to get your medicines and treatments covered.
• United Way’s 2-1-1 or 211.org service offers a list of local agencies that can help with things like rent, mortgage, and utilities.
• An accountant or financial advisor (who is likely to charge a fee) can show you how to manage your money most effectively.

Help with managing your bills

Paying your bills on time may be hard, but creditors may be more helpful than you expect. It’s always a good idea to make a payment, even if it is small, to show your creditors that you’re trying to pay. “Good faith” payments can be the basis of working out a better agreement.

Here are some other things you can do if you need help:

• Ask creditors if you can work out a payment plan. For help negotiating with creditors or making a debt management plan, contact an accredited, nonprofit credit counseling service like the National Foundation for Credit Counseling.
• Ask if you can get a disability waiver for some debts, such as your mortgage or car loan.
• Call utility companies and let them know about your hardship. They may lower your monthly fees or offer other assistance.
• Check your state’s Low Income Home Energy Assistance Program (LIHEAP) for help with utilities.
• Find out if your health insurance covers any indirect costs of treatment, like at-home care, special foods, nutritional supplements, or special equipment and items like lymphedema sleeves and wigs.
• Use a local food bank to help reduce grocery bills. Find out if you are eligible for Supplemental Nutrition Assistance Program or SNAP.
• If you have a car payment, talk to your bank to see if skipping a payment is an option. Some banks will let you miss one payment per year and pay only the interest.
• The Living Beyond Breast Cancer Fund is one resource that provides grants for daily expenses for people with breast cancer. For information about the Fund and a list of other financial programs and resources, visit LBBC’s Financial help and resources page.

Managing your mortgage or rent

If you are behind on your rent or mortgage payments, or think you might get behind, there are resources to help you prevent eviction and foreclosure.

Start with a social worker or financial navigator, who will know about local resources. The processes of eviction and foreclosure and your rights vary by state. Here are some tips that will help you no matter where you live:

• If you rent, talk to your landlord. Find out if they are willing to work with you, but don’t promise anything you can’t do. For example, don’t promise a payment you can’t make.
• If you own a home, contact your mortgage lender to work out a new payment plan like a second mortgage, a reverse mortgage, or a home equity loan. If possible, consult with a financial advisor, so that you fully understand your options before making any decisions.
• Check your local 211 United Way Hotline. Dial 2-1-1 on your phone and they can recommend local resources for which you might qualify.
• Call your local housing counseling agency. They will be able to advise you on any rental assistance funds that may be offered in your state. To find an agency near you, see the directory managed by the U.S. Department of Housing and Urban Development.
• Contact your local Legal Aid Society. Affordable legal help is available.
• See the Consumer Financial Protection Bureau’s list of frequently asked questions. You can filter by state to get more specific information on available resources.

Support for treatment-related transportation and lodging, and living expenses

Local organizations and community groups often have grants that can help people with breast cancer deal with transportation issues by offering services or helping to pay for those kinds of costs. Others may be able to help with meals, lodging, and special equipment like wigs and breast prostheses. Other nonprofits that offer such programs include:

• United Way
• American Cancer Society
• CancerCare

Local nonprofit, civic, or faith-based groups may sponsor families who are facing long-term illnesses or other traumatic events by providing food and helping with daily expenses.

Check out our Financial help and resources page for more options.

Asking family or friends for help

Family and friends often feel empowered when they can help loved ones. Having their help can decrease your anxiety and worry, too.

If you are living with a breast cancer diagnosis, asking for financial help should not be a source of shame. If you are not at ease asking for yourself, have a trusted family member or friend let others know that gift cards for food, gas, or groceries would be helpful as you go through treatment.

Financial planning services

Ask a social worker, financial navigator, or nurse at your hospital or cancer center to refer you to a nonprofit, government agency, or other group that may be able to help you.

Look for free or low-cost financial planning talks sponsored by organizations such as AARP or by investment management companies.

Accountants and financial advisors

If you are able to, you may want to think about hiring an accountant or financial advisor. Accountants can help you save money on income taxes by deducting medical expenses.

A financial advisor or planner can help you protect your assets from creditors by setting up a trust fund. Assets include money in checking or savings accounts, retirement savings accounts, and homes that are owned (not rented). Financial advisors can teach you how to manage your assets and plan for the future.

Protecting your family’s financial future

If you are in treatment for breast cancer, you may be forced to think about issues you would rather not have to think about.

You may think about who will pay for and manage the costs of your care if you become unable to do so. You may want to choose someone to make decisions about your care and treatment if you can’t make those decisions for yourself.

It may offer you peace of mind to make decisions and plan for your family’s financial future. You may want to think about hiring a lawyer or attorney. Things you may want to discuss with your lawyer include having:

• An advance directive (living will and durable power of attorney)
• A financial power of attorney
• A will
• A trust

Advance directive: Living will and durable healthcare power of attorney

Advance directives are legal documents that state your wishes for medical care that go into effect only if you cannot communicate your own wishes. The two most common advance directives are living will and durable healthcare power of attorney.

A living will tells your healthcare team how you want to be treated in an emergency situation.

A durable healthcare power of attorney allows you to name a trusted person to make decisions about your health care if you are unable to do so. Durable means the choice continues to be in effect if you become disabled in some way.

Financial power of attorney

A financial power of attorney is a legal document that allows you to choose someone else to act on your behalf if you can’t make financial decisions for yourself.

Will

A will is a legal document that states how you would like your assets to be distributed when you die. A will helps you plan financially for your loved ones.

Trust

A trust allows you to place property in an account to be managed by another person.

Resources for financial future planning

If you do not have an attorney, there are free and low-cost resources and services available to help you plan for the future of your loved ones. They include:

• American Bar Association
• American Cancer Society Giving Docs
• Cancer Legal Resource Center
• Legal Services Corporation
• Triage Cancer