Soaring Cancer Drug Costs Would Impact Canadians’ Finances

The Canadian Cancer Society has expressed its concern over the rising medication costs for cancer that are taken by patients at their homes, as they could hit the savings of many.

Those drugs, which are provided in hospitals, are free of cost, as they are funded by the health system of Canada. But, the drugs taken at home bear costs in many of the states.

For medication taken at home, Canadians have to bear an average cost of $65,000, which is even higher than their average annual income.

“Most Canadians are not prepared for these costs, and it is only when they get sick that they realize that our country's universal health care system does not pay for everything”, says the Cancer Society.

Some people are provided medical costs by employers and some are covered through insurance, but in the vogue of increasing medication cost, even insurers have started surging their maximum insurance payout claims and some are providing claims below than the costs of recent cancer drugs.

The society also argued that the discrepancies between the public and private insurance plans and the gap among the various provinces regarding the costing of drugs are improper.

The Cancer Society conducted a poll and released its results on Wednesday. It discovered that 47% of the people of Canada were of the view that the medication costs would adversely affect their finances. The figure rose to
58%, after the information of increasing cost of newer cancer drugs, while only 10% expressed that they could afford the soaring costs.