(Kate Browne, at the start of her Breast Cancer treatment)
14 October 2024 - 58 Australians are diagnosed with breast cancer every day, and new research has found it’s the financial costs of treatment and recovery that are blindsiding patients. Figures from Compare Club reveal more than half of breast cancer patients face hidden costs in home care and mental health, as treatment costs soar to $30K*, with 7 out of 10 breast cancer patients having to use their savings to fund their treatment.
The report also found that 12.35% of women diagnosed with breast cancer experienced divorce or separation as a result of their diagnoses**. This figure is a staggering 10 times higher than the average divorce rate in Australia. A further 8% of respondents said that their relationships were under strain and experienced hardship as a result of the treatment and the diagnosis.
Survey respondents cited the breakdown of their relationship as directly related to their cancer treatment, with some saying their partners walked out or asked for a divorce while they were still undergoing treatment or shortly after completing treatment, which means that these women are even more financially disadvantaged. According to research from the University of Melbourne, separation can reduce a woman's disposable household income by 30 per cent (compared to men at 5 per cent.)
Kate Browne, Compare Club's Head of Research, is also a breast cancer survivor. "While surviving cancer is a massive win, life after treatment ends can be profoundly different, and that all comes at a cost. The financial impact of undergoing a cancer diagnosis and treatment extends far beyond the actual medical treatments. From needing help at home to mental health support, parking fees and the cost of transport to attend frequent treatments were all cited as being an unexpected and ongoing financial burden."
Women said the high costs of home care (43.75%), mental health support (45.57%), and income loss (48.44%) topped the list of unexpected expenses. Post-treatment costs surprised many, including physio, support garments, and specialist appointments.
69% of breast cancer patients have had to fund their treatment via personal savings. While most women said they had some savings, nearly one in four people had saved $5000 to $10,000 for an emergency.
Patients face a critical decision between public and private care. "Public care offers comprehensive, team-based treatment at minimal cost, but with longer wait times. Private care provides flexibility and shorter waits, but with significant out-of-pocket expenses," Browne explained. "Call your health insurer about out-of-pocket costs before deciding. It’s also quite possible to go public or private for different parts of treatment as it suits you best."
The report found a 35% decrease in health insurance coverage post-diagnosis, especially among $45-$75k earners. Loss of income and difficulty returning to work were also cited as major roadblocks and financial hurdles, with 69.71% of respondents reporting experiencing some challenges returning to work.
Many survey respondents said they wished they had life insurance, and in particular income protection insurance, at the time of diagnosis, as low income and being unable to work for long stretches of time were hidden costs they hadn’t accounted for.
"Cancer treatment isn't just a medical journey; it's a financial marathon. With treatments lasting up to a year and mental health support costing $311 per session, survivors face a ‘double whammy’ of income loss and ongoing expenses. Our survey shows that even after recovery, many struggle to return to work due to fatigue and lingering health challenges. This financial impact isn't a quick fix - it's a long-term hurdle for many breast cancer survivors," said Kate Browne.
DIVORCE SPIKE
A shocking finding from the report is that approximately 140 out of 1000 women who are diagnosed with breast cancer end up divorcing as a result of their treatment. This is compared to the general divorce rate in Australia, which is 2.2 divorces per 1000 people.
Browne added, drawing from personal experience: "Five years ago, I faced breast cancer myself. While my actual treatment was fairly straightforward, I was not prepared at all for the costs of my post-cancer treatment life. From physiotherapy to additional surgeries, the expenses kept mounting. But the financial and emotional bombshell that was my partner asking for a divorce- that was something no one warned you about and was far harder to recover from in every single way. Surviving cancer is such a brutal journey in itself, it’s devastating to think how many breast cancer survivors then go through the second bombshell that is separation or divorce.”
The Compare Club study reflects international research showing women with serious illnesses like cancer are six times more likely to experience separation or divorce compared to male patients.**
"It seems that divorce is another symptom of a cancer diagnosis," Browne noted. "Not only does this have a devastating effect on the cancer survivor's mental health, but it also directly impacts their finances. Many women find themselves having to support themselves, and sometimes their children, in a very different financial situation than they started in."
YOUR FREE FINANCIAL TOOL KIT
To help Australians better prepare for the potential costs of breast cancer, Compare Club has developed a Breast Cancer Financial Wellness Kit. This comprehensive guide includes:
A checklist of potential hidden costs
Questions to ask health and life insurance providers
Tip on where to access government and not for profit assistance for cancer patients and survivors
"We hope this kit will empower Australians to be better prepared financially, should they or a loved one face a breast cancer diagnosis. Being realistic about the financial and emotional potential costs can make a significant difference in navigating this challenging journey," says Kate Browne.
You can access the Breast Cancer Cost Kit here or visit compareclub.com.au
-ENDS-
NOTES
* 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.
**https://aifs.gov.au/research/facts-and-figures/divorces-australia-2023
***Huntsman Cancer Institute at the University of Utah School of Medicine and Stanford University School of Medicine
The study, "Gender Disparity in the Rate of Partner Abandonment in Patients with Serious Medical Illness," was published in the Nov. 15 issue of the journal Cancer.
For media enquiries:
Jasmine Kostas
Media + Capital Partners
0425 327 224
jasmine.kostas@mcpartners.com.au
About Compare Club
Compare Club is one of Australia’s fastest-growing personal finance marketplaces. It helps Australians save money by navigating complicated and important financial decisions. Compare Club’s panel of experts offers bespoke advice to over 3.6 million members making 1 million product enquiries per year on key financial decisions, including health insurance, electricity and gas bills, and personal, car, and home loans. Compare Club is locally owned and employs 350 passionate staff across Sydney, Melbourne, and Brisbane and another 50 staff in Indonesia and the Philippines.
