Breast Cancer Index

Introduction

Breast Cancer has impacted approximately 114,662 women over the past five years, at a rate of 56 new patients diagnosed each day. This report aims to dissect the financial implications of a breast cancer diagnosis on Australian women including quantitative data on insurance, hidden costs associated with cancer, burden of cost and emergency funds as well as qualitative data on the ramifications of diagnosis and treatment on returning to work and relationships.

Respondents are far less likely to hold health and life insurance and income protection as compared to when they were diagnosed. This rate fell from 67.2% holding it at diagnosis to 56.8% holding it currently. Supporting qualitative statements from respondents could attribute this rate drop to unsatisfactory experiences with their insurance coverage - with 12.62% of respondents wishing they had known exactly what was covered by private insurance before they had their diagnosis.

This rate drop is particularly prominent for those making $45-$75k, where there was a 35% drop in the holding of health insurance from the time of diagnosis as compared to now. The one exception to this dynamic are amongst those aged 45+ who hold more of both life insurance and health insurance as compared to during their diagnosis.

Cost management strategies:

Personal savings were the most used strategy to manage the burden of cost, followed by medicare and then insurance. When asked what respondents wish they had known about breast cancer before their diagnosis, 53.7% reported wishing they had known about the full costs they would incur from treatment.

The most drastic difference in cost management strategies by demographic group was found in parents, who relied drastically more on their significant others to help cover the cost of their treatment as compared to their non-parent counterparts. Those who live in NSW also rely on their partners financially far more than compared to those living in SA (29.31 compared to 13.33)

Hidden Costs:

Apart from the costs derived from the diagnosis and treatment of breast cancer, there are a slew of other hidden costs associated with the disease. These hidden costs can account for a significant portion of the total cost of cancer, and 12.94% of respondents cited wishing they had known about these costs sooner.

Most respondents cited loss of income, mental health support and home care assistance as the biggest hidden costs. This differs depending on demographic.

Those aged 25-44 struggled significantly more with home care assistance than other age groups, and those aged 18-34 struggled significantly more with mental health support than their counterparts. Those without kids struggled with mental health support and loss of income significantly more than those with kids, however those with kids struggled with home care assistance significantly more than those without kids.

How much was the total cost of your treatment?

Respondents were asked to estimate the total cost of their cancer treatment including hidden costs.

27% of respondents diagnosed in the last five years said the total cost of their treatment was between $30-50k, which aligns with Zurich’s average lifetime cost of breast cancer - $41,260. Those living in South Australia reported the most expensive cancer costs (46.67% over 30k+), followed by those living in Qld (38.24% cite costs over 30k)

Do you have an emergency fund?

There are some key differences between the emergency funds of those with breast cancer as compared to the general population.

Among breast cancer patients, only 9.37% report having no emergency fund, compared to 15% of the general population, indicating that breast cancer patients may be prepared for potential health emergencies.

In terms of smaller savings, 9.09% of breast cancer patients have less than $1,000 saved, while 40% of the general population falls into this category, indicating that those with breast cancer are more likely to have a minimum buffer of savings. Notably, 20.39% of breast cancer patients have between $5,000 and $10,000 in savings, and a larger portion, 34.16%, have more than $10,000 saved. This is significantly higher than the 25% of the general population with over $10,000 in savings.

Did you face challenges returning to work?

Respondents were asked if they faced any challenges returning to work and what these were. 69.71% reported experiencing some challenges returning to work, with the most common challenges being: a perceived or actual level of social pressure from coworkers, a lack of physical ability to do work tasks, fatigue and mental health concerns.

Did you face relationship challenges with friends or family?

Respondents were asked if they had faced any challenges in their relationships with friends and family. 63.64% of respondents reported changes in these relationships - with 42.68% reporting their relationships getting better, and 20.78% reporting their relationships getting worse.

Did you face divorce?

Respondents were asked if they experienced separation or divorced after their breast cancer treatment. 12.35% reported experiencing separation or divorce, with another 8.47% reporting that their diagnosis or treatment caused some strains in their relationships.

The average divorce rate in Australia as of 2023 is 2.2 in 1000 Australians. According to Compare Club Research, approximately 123.8 out of 1000 women who have experienced breast cancer in the last five years undergo a divorce or separation during or as a result of their breast cancer treatment or diagnosis. At a rate of approximately 24.6 women every year, the likelihood of a woman with breast cancer experiencing divorce or separation is roughly 10.82x higher than the average Australian (when divided across the crude divorce rates reported by the ABS from 2019-2023 and then averaged).

What do you wish you knew about?

Respondents were asked what they wished they knew before experiencing diagnosis. 53.72% of respondents reported answers associated with the costs of treatment including medication, treatment, special care costs and hidden costs.

Other common responses included: wanting to know the difference between private and public healthcare coverage, the impact and cost of time off from work, and knowledge about what the disease entailed both financially and physically before the diagnosis.

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