April 20, 2024 12:19 pm
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National News

Groups Work to Empower Families with Financial Knowledge for Navigating Cancer

Credit: iStock

Shanteya Hudson

October is Breast Cancer Awareness Month when people unite in support of those impacted by this prevalent disease. However, the financial burden that follows a cancer diagnosis is often overlooked. Coastal Credit Union, the American Cancer Society and Kane Realty have organized “Connected for a Cure,” an event to provide families with financial knowledge for navigating what to do after a diagnosis.

Tracey Smith, senior corporate relations manager with the American Cancer Society, said the diagnosis is devastating, but so is the financial impact.

“Most oftentimes when people are diagnosed with cancer, they’re completely blindsided by it so depending on the stage of that diagnoses cancer can start at a quarter million dollars all the way up to millions of dollars,” she said.

Smith added finding a balance between self care and meeting basic needs is the primary concern for most families, and Connected for a Cure will equip them with the tools they need while providing people with healthcare resources. The event is scheduled for tomorrow from 10 a.m. to noon at Coastal Credit Union Midtown Park at North Hills.

According to a report by the Urban Institute, about one in every five families has medical debt in collections.

Tina Clossick, Vice President of Community Impact at Coastal Credit Union, said financial stress not only affects individual families but impacts entire communities. She wants to make people aware that resources are available to assist them, regardless of their financial situation.

“For us, being able to support the opportunity for both the community awareness as well as our members awareness around how the impacts are there, but also opportunities for them to feel comfortable no matter where they are in their journey,” she explained.

In addition to gaining financial literacy and meeting financial health advisors, Clossick added the event will give people valuable information regarding cancer screenings and prevention.

References:  

Cancer Facts & Figures 2023 American Cancer Society 2023

This article originally appeared on Public News Service and is republished here under a Creative Commons license.

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