1. Washington State cancer patients found to be at greater risk for bankruptcy than people without a cancer diagnosis.
- Author
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Ramsey S, Blough D, Kirchhoff A, Kreizenbeck K, Fedorenko C, Snell K, Newcomb P, Hollingworth W, and Overstreet K
- Subjects
- Adult, Age Distribution, Aged, Bankruptcy statistics & numerical data, Female, Financing, Personal statistics & numerical data, Humans, Kaplan-Meier Estimate, Male, Middle Aged, Neoplasms classification, Proportional Hazards Models, Retrospective Studies, Risk, SEER Program statistics & numerical data, Sick Leave economics, Sick Leave trends, Social Class, Unemployment trends, Washington, Young Adult, Bankruptcy legislation & jurisprudence, Financing, Personal economics, Health Expenditures statistics & numerical data, Neoplasms economics
- Abstract
Much has been written about the relationship between high medical expenses and the likelihood of filing for bankruptcy, but the relationship between receiving a cancer diagnosis and filing for bankruptcy is less well understood. We estimated the incidence and relative risk of bankruptcy for people age twenty-one or older diagnosed with cancer compared to people the same age without cancer by conducting a retrospective cohort analysis that used a variety of medical, personal, legal, and bankruptcy sources covering the Western District of Washington State in US Bankruptcy Court for the period 1995-2009. We found that cancer patients were 2.65 times more likely to go bankrupt than people without cancer. Younger cancer patients had 2-5 times higher rates of bankruptcy than cancer patients age sixty-five or older, which indicates that Medicare and Social Security may mitigate bankruptcy risk for the older group. The findings suggest that employers and governments may have a policy role to play in creating programs and incentives that could help people cover expenses in the first year following a cancer diagnosis.
- Published
- 2013
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