Nearly half of cancer patients have medical debt, even though most are insured [Video]

Health insurance doesn’t necessarily protect patients from medical debt: A survey from the American Cancer Society’s Cancer Action Network published Thursday found that almost all cancer patients burdened with debt also had insurance coverage.

The findings underscore the exorbitant cost of cancer care in the United States.

The results were based on survey responses taken from nearly 1,300 cancer patients and survivors from March 18 through April 14.

Overall, 47% of patients reported medical debt related to their cancer treatment, with half carrying debt that exceeded $5,000. More than two-thirds carried their debt for more than a year; about a third carried the debt for over three years.

Virtually all — 98% — had health insurance at the time the debt was incurred.

“While it is terrific that 98% had some form of coverage, what this tells us is that’s clearly not enough,” said Karen Knudsen, the CEO of the American Cancer Society. “Cancer care is really devastating to people’s financial position.”

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