Financial Planning During Cancer Treatment

Along with physical and emotional challenges, cancer brings the stress of high treatment costs. These expenses can drain a family’s savings quickly. Maintaining the presence of mind to plan for and manage the cost of cancer treatment can make a big difference in this difficult journey. The cost of treatments like chemotherapy, radiation, and surgeries can be overwhelming, especially in countries like India where healthcare expenses are often paid out of pocket. Without proper financial planning, families can face severe stress and even debt.
The first step in financial planning is understanding the costs involved. Cancer treatment can include doctor consultations, diagnostic tests, surgeries, medications, and follow-up care.
Here are some practical tips and resources to help you navigate the financial challenges of cancer treatment in India:

• Understand Your Health Insurance
  Health insurance is one of the most important tools to manage cancer treatment costs. Check if your policy covers cancer treatment, including chemotherapy, radiation, and surgeries. Some policies have waiting periods or exclusions, so read the fine print carefully. For Example, If your insurance doesn’t cover a specific treatment, ask your doctor if there’s a covered alternative.
   Visit Policybazaar to compare health insurance plans and find one that suits your needs.
• Explore Government Health Schemes
  The Indian government offers several health schemes to help low-income families afford cancer treatment. For example, The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY) provides health coverage of up to ₹5 lakh per family per year for secondary and tertiary care, including cancer treatment. Check eligibility and enroll at PM-JAY. And The Rashtriya Arogya Nidhi (RAN) provides financial assistance to patients living below the poverty line.
• NGOs and Charities
  Many NGOs and charities in India provide financial aid, free treatment, or subsidized care for cancer patients. For example,
  The Indian Cancer Society (ICS) offers financial assistance, free screenings, and support services. Visit their website at Indian Cancer Society.
  The Tata Memorial Centre provides affordable cancer treatment and has a patient aid fund for those in need. Learn more at Tata Memorial Centre.
  Can Protect Foundation provides early detection, prevention, and comprehensive screening of breast and cervical cancer. Visit canprotectfoundation
  Pancreatic Cancer Action Network (PanCan) which provides comprehensive patient services including information, resources, and personalized support to patients suffering from pancreatic cancer. Learn more at pancan.org and seek palliative care. Visit karunashraya for more information.
• Look for Hospital Payment Plans
  Some hospitals offer payment plans or discounts for cancer treatment. Talk to the hospital’s billing department to see if they can help reduce your costs. For example, If you’re unable to pay the full amount upfront, ask if the hospital allows installment payments.
• Use Crowdfunding Platforms
  Crowdfunding is a popular way to raise funds for medical expenses in India. Platforms like Ketto and Milaap allow you to create campaigns and share them with friends, family, and the public. Create a campaign explaining your situation and share it on social media to reach a wider audience. Visit Ketto or Milaap to get started.
• Apply for Corporate CSR Programs
  Many companies in India have Corporate Social Responsibility (CSR) programs that fund medical treatments for underprivileged patients. For example,  Reliance Foundation and Tata Trusts offer financial aid for cancer treatment. Check their websites for eligibility and application details. Visit Reliance Foundation and Tata Trusts for more information.
• Plan for Long-Term Costs
  Cancer treatment can lead to long-term financial challenges, such as ongoing medication costs or loss of income. Consider working with a financial advisor to create a long-term plan. If you’re unable to work, explore disability benefits or part-time work options to supplement your income.
• Utilize Free or Low-Cost Treatment Centers
  Several government and charitable hospitals in India provide free or low-cost cancer treatment. For example,  The All India Institute of Medical Sciences (AIIMS) and Regional Cancer Centres (RCCs) offer affordable cancer care. Check their websites for details. Visit AIIMS and National Cancer Grid for a list of cancer treatment centers.

Financial planning during cancer treatment is not easy, but it’s essential. By exploring options like health insurance, government schemes, crowdfunding, and NGO support, families can reduce the stress of medical expenses. The key is to plan ahead, stay informed, and seek help when needed. Remember, you’re not alone in this journey there are resources and people ready to support you every step of the way.