How to Get Extra Cash for Cancer Treatments

The cost of cancer treatments can put a huge burden on a patient and their family. Some people think that as long as they have health insurance coverage, that they won’t have any additional out-of-pocket costs. Unfortunately, this is often not the case and there are additional hidden costs that must be paid by the patient. Further, many patients undergoing treatment are unable to work and lose their income. Below are a few ways to obtain financial help with treatments, daily living expenses, and any else that is necessary.

• Viatical Settlement – Cancer patients may have the option of selling their life insurance policies for cash so that they can have money for anything that they need while working to treat the disease. This type of settlement was used a great deal during the height of the AIDS epidemic in the late 1980s and early 1990s. Through viatical settlements, people with AIDs were able to get money for their care when they had nowhere else to turn. In this type of settlement, the patient sells their policy to a third party for cash. The third party then becomes the new owner of the policy and takes over making the monthly payments.  

• Fundraise – The family and friends of the patient can hold a fundraiser to help pay for the overwhelming medical costs and living expenses. There are a variety of standard fundraisers that have proven successful, but it’s always best to personalize the event. If the cancer patient belonged to a bowling league or golf club, put together an event at that establishment. Bowl-a-thons and golf outings are great fundraising opportunities that would likely attract many donors. Remember to always plan an event that will be meaningful for the patient.

• Temporary Assistance for Needy Families (TANF) – This program is designed to aid families that require extra support, services, and money to achieve self-sufficiency. This organization may be able to provide temporary assistance for cancer patients for things like groceries and other household essentials. People diagnosed with cancer that are having a hard time keeping up with bills are encouraged to reach out to this organization.

There are several ways to get financial help for cancer patients. Whether through a viatical settlement or a bake sale, the money will help the patient afford both their care and normal expenses.