Trending News Today: Financial Toxicity in Cancer Patients
Top news of the day across the health care landscape.
Financial burden, or “financial toxicity,” is an element of cancer diagnosis that often gets shifted aside for both patients and physicians, according to The Washington Post. Financial devastation can have a huge impact on a cancer patient, with some studies suggesting that it can have an effect on overall survival. According to health economist and physician Scott Ramsey, cancer patients in 2013 were 2.65 times more likely to file for bankruptcy than those without cancer.
The Affordable Care Act (ACA) has caused a change within the markets making it difficult for insurers to make a profit. As a result, the UnitedHealth Group will no longer sell health plans in Georgia and Arkansas by next year. According to The Washington Post, both United Health and Aetna reported losses from the policies last year. In November, UnitedHealth began discussing its potential departure from ACA markets and the decision to stop offering these plans next year means that enrollees will need to choose a new health insurance provider.
The new lost-cost option for coverage under the New York health exchange projects an enrollment of more than 470,000 residents, reported The Wall Street Journal. This lost cost plan is an option under the Affordable Care Act that will begin in 2016 and is aimed at adults who do not qualify for Medicaid but can’t afford private coverage.