Some families that have faced cancer say their health insurance plans left them exposed to heavy financial burdens.
Although most consumers with health coverage say their families’ finances have survived relatively intact, about 10% report running into serious problems, according to researchers at the Henry J. Kaiser Family Foundation, Menlo Park, Calif., and Harvard University.
The researchers organized a survey for USA Today of 930 U.S. adults in households affected by cancer.
The researchers found that only 6% of the uninsured survey participants and 3% of the insured participants said their families had declared bankruptcy as a result of the financial cost of coping with their cancer or a family member’s cancer.
In the uninsured group, 46% of the families used up all or most of their savings, 30% had to borrow money from relatives, and 41% found that they were unable to pay for basic necessities such as food and housing.