Time to read : 5 Minutes
Every day, 58 Australians are diagnosed with breast cancer and as if that wasn’t devastating enough, Compare Club’s new research reveals that it's not just the medical challenges patients face. These shocking findings show clearly that this disease never stops costing those who survive it.
Nearly 50% of women surveyed said they’d suffered income loss during treatment for breast cancer.
Life insurer Zurich estimates the average out-of-pocket expense for breast cancer treatment is $5,500.
But it’s the cost once somebody beats breast cancer that many survivors are shocked by – with physio, mental health costs and breast reconstruction surgery all adding up.
Zurich estimates the lifetime out-of-pocket cost for a breast cancer survivor is more than $40,000.
The emotional cost can also be high, with many women reporting splitting from their partners during treatment.
And while breast cancer affects both genders, a woman's lifetime risk of being diagnosed with breast cancer is 1 in 7, while for men, the risk is 1 in 550.
The majority of breast cancer cases – around 80% – occur in women over 50, who are also one of the most financially vulnerable groups in Australia at the moment.
The “financially toxic” hidden costs
The financial strain of treatment and recovery is catching many off guard. According to our research, more than half of breast cancer patients experience hidden costs related to home care and mental health.
Treatment costs can reach up to $30,000. Even more concerning, 7 out of 10 patients end up using their savings to cover these expenses.*
“While surviving cancer is a huge victory, life after treatment can be profoundly different, and that comes at a cost," says Kate Browne, Head of Research at Compare Club and a breast cancer survivor herself.
"The financial impact extends far beyond medical bills. Many patients face unexpected costs like needing help at home, mental health support, and even parking fees and transportation for treatment."
Our study found that:
43.75% of patients struggled with the cost of home care
45.57% with the cost of mental health support
Nearly half (48.44%) reported significant income loss.
And also… Many women were also hit hard by their post-treatment expenses, including physiotherapy, specialist appointments, and support garments.
Almost a quarter of patients had only $5,000 to $10,000 set aside for emergencies, which was quickly depleted, leaving them facing a financial black hole.^
How much does having health insurance help survive these costs?
One of the critical decisions for patients is choosing between public and private care. "Public care provides team-based treatment at minimal cost, but may mean longer wait times for treatment," Kate explained.
"Private care offers flexibility and shorter wait periods, but can come with significant out-of-pocket expenses. It’s important to call your health insurer to discuss costs before deciding, and remember that you can mix and match public and private care to suit your needs."
In fact, 13% of respondents said they wished they’d known exactly what was covered by their health insurance – and what wasn’t – before their diagnosis.
In addition, 70% of respondents reported facing challenges returning to work, primarily due to ongoing fatigue and health issues, which also led to further financial challenges.
Many patients expressed regret for not having life, trauma or income protection insurance at the time of their diagnosis. These products can cover the cost of lost wages (income protection) or pay out a lump sum on diagnosis (trauma cover), helping ease the financial strain of cancer treatment.
"Cancer treatment isn't just a medical journey; it's a financial marathon," Kate says. "With treatments often lasting up to a year and mental health support costing $311 per session, patients face a ‘double whammy’ of income loss and ongoing expenses. Even after recovery, many struggle to return to work because of lasting health challenges. The financial impact is long-term for many breast cancer survivors."
The not-so-obvious cost: divorce
On top of this heavy, seemingly unending financial burden, breast cancer has a massive emotional impact on those diagnosed – and the people around them.
Around 8% of respondents reported that their relationships were strained during treatment, adding another layer of hardship.
12.35% of women in our survey who were diagnosed with breast cancer experience divorce or separation as a direct result of their diagnosis.
Nationally, approximately 124 out of 1,000 women diagnosed with breast cancer experience divorce. This is much higher than the general population’s 2.2 divorces per 1,000 people.
Kate experienced this herself: "Five years ago, I was diagnosed with breast cancer. The treatment was manageable, but I wasn't prepared for the financial and emotional costs that followed.
“From physio to additional surgeries, the expenses kept piling up. But the hardest blow was when my partner asked for a divorce during my recovery. Surviving cancer is already brutal, and the additional heartbreak of a separation was even harder to handle."
Research shows that women with serious illnesses like cancer are six times more likely to experience separation or divorce compared to male patients. Kate emphasises that, "Divorce seems to be another symptom of a cancer diagnosis. It not only affects the survivor’s mental health but also leaves them in a very different financial position, often supporting themselves and their children alone."
Bottom line
Breast cancer is, thankfully, more survivable than ever. But there’s very little discussion around what happens after you beat the Big C.
Kate calls the hidden expenses “financial toxicity” and it can add extra mental stress at a time when your body is engaged in the biggest fight of its life.
With cases of breast cancer also on the increase in women under 50 in Australia, having a conversation about finances and insurance in the event of a diagnosis could be, literally, life changing.
Go deeper:
If you got cancer, could you finance the treatment?
* 27% of patients face treatment and hidden costs totalling between $30-50K
^ Compare Club’s research aligns with Zurich’s recent Cost of Care report indicating median out-of-pocket costs of $5,500, though the Breast Cancer Network Australia (BCNA) suggests this could range up to $25,000. Zurich's report also estimates average lifetime costs at $41,260.
Financial Disclaimer
The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. You should check with a financial professional before making any decisions. Any opinions expressed within an article are those of the author and do not specifically reflect the views of Compare Club Australia Pty Ltd.
