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. 2023 Feb;17(1):174-186.
doi: 10.1007/s11764-021-00998-9. Epub 2021 Feb 14.

The financial impact of cancer on Canadian young adults

Kaitlyn N Mahon  1 , Sheila N Garland  2   3 , Geoff Eaton  4 , Karine Chalifour  4 , Breanna E Lane  1 , Ken Fowler  1 , Lynn Gambin  5 , Luc Clair  6
Affiliations

The financial impact of cancer on Canadian young adults

Kaitlyn N Mahon et al. J Cancer Surviv. 2023 Feb.

Abstract

Purpose: To explore the financial impact of cancer in young adults (YAs) compared to matched non-cancer peers.

Methods: Five hundred seventy-five YAs from the Young Adults with Cancer in their Prime (YACPRIME) study reported on out-of-pocket cancer costs and missed work. YA cancer survivors were compared to matched peers without cancer on key financial indices based on current age (< 35 vs. 35 + years) and time since diagnosis (< 5 vs. 5 + years). Descriptive statistics, Chi-square tests, and prevalence ratios (PR) were used to compare groups on financial variables.

Results: Almost 60% of YA survivors spent at least $100/month on cancer-related expenses, and 49% missed at least one year of work. YA survivors were more likely to have outstanding credit card ((< 35 (PR = 1.37, p = 0.001); 35 + (PR = 1.33, p = 0.001)) and line of credit (< 35 (PR = 1.42, p = 0.008); 35 + (PR = 1.27, p = 0.016)) balances. Home ownership was higher among non-cancer peers ((< 35: PR = 1.42, p < 0.001); 35 + (PR = 1.69, p < 0.001); < 5 years (PR = 1.39, p < 0.001); 5 + years (PR = 1.41, p = 0.005)). YA survivors were more likely to not own assets ((< 5 years (PR = 2.25, p < 0.001); 5 + years (PR = 2.25, p = 0.004)). Those diagnosed within 5 years had higher rates of payday loans (PR = 3.91, p = 0.021).

Conclusion: While exploratory, results suggest that YAs are disadvantaged compared to their peers in type and value of assets owned and debts carried.

Implications for cancer survivors: Survivorship care plans for YA survivors should include resources to manage the financial impacts of cancer.

Keywords: Cancer; Costs; Financial toxicity; Health expenditures; Young adults.

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References

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