Angel Foundation is always seeking new ways to serve the local cancer community by understanding the challenges they face and looking for innovative solutions. We’ve identified a key problem cancer patients face and a potential solution.
PROBLEM: The long-term financial burden of cancer
Financial toxicity describes the measurable, negative impact that healthcare costs have on patients. The unpredictable costs of cancer care, often aggravated by loss of income, can devastate patients and their families. In a study of 9.5 million cancer survivors age 50 or older, roughly 42% had exhausted their life savings and all their other assets just two years after diagnosis and 73% of all adult cancer patients will experience some form of financial toxicity..
SOLUTION: Financial education and planning
Angel Foundation, in partnership with Ameriprise Financial, Blue Cross Blue Shield of Minnesota and Abbvie and with support from the Financial Planning Association of Minnesota and the Foundation for Financial Planning, is introducing a Financial Cancer Care program pilot that will bring forth a solution for managing cancer related financial toxicity for families in the Twin Cities. The pilot program, for 200 people over two years, will embrace the best practices of existing research, case studies and other programs to have the greatest impact on financial toxicity.
612-627-9000 ext. 509
1155 Centre Point Drive, Suite 7
Mendota Heights, MN 55120
Angel Foundation offers local cancer patients and their families financial, educational, social and emotional support. Since 2001, showing a proven approach to addressing critical issues, Angel Foundation has distributed more than $10 million in emergency financial assistance and provided nearly 30,000 program services to local adults with cancer and their families.
For 85 years, Blue Cross and Blue Shield of Minnesota has been dedicated to providing quality, cost-effective health plans and unique health programs. We do this through innovation, leadership, community involvement and by staying true to our mission of making a healthy difference in people’s lives.
We target specific difficult-to-cure diseases where we can leverage our core R&D expertise to advance science. We’re constantly working to create solutions that go beyond treating the illness to have a positive impact on patients’ lives, on societies—and on science itself.
The Financial Planning Association® (FPA®) is the largest membership organization for CFP® professionals in the U.S. and also includes members who support the financial planning process.