A report by the National Cancer Registry Ireland highlighted the severe financial implications of cancer on Irish families. The report highlighted a number of key areas of concern for cancer sufferers. This included:
• Increased medical costs such as consultant fees and expensive medications.
• Actual out of pocket expenses such as increased travel to appointments that may be in medical centers of excellence located a distance away from home.
• Increased utility bills due to the extra time spent at home recovering from surgery.
• Reduction in earnings due to patients (and their family members) having to take time off work. This is particularly relevant for those that are self-employed.
While many people fear the medical effects of cancer, the adverse financial implications are often ignored. The report highlighted the increased financial stress and financial strain experienced by many households where someone has been diagnosed with cancer. This increased financial stress and strain is associated with a greater likelihood of experiencing depression, anxiety or emotional stress.
Frank Ryan Financial Services are best placed to advise you on how to deal with the financial implications of serious illness.If you need more information please complete the enquiry form.