Rewriting Health Policy: Confronting Financial Toxicity in Cancer Care

Financial toxicity affects patients and families across socioeconomic spectrum, regardless of insurance status. Rooted in a capitalist healthcare system, excessive costs have become normalized especially within cancer care. Unlike many other high-income countries, the US does not impose price restrictions on pharmaceutical companies, who have the autonomy to increase drug prices with limited regulatory oversight. This particularly impacts rare cancers with little to no alternative options, rendering life-saving treatment completely unaffordable. These financial burdens lead patients to delay or forgo care, contribute to treatment and medication nonadherence, and force cut backs on essential primary and preventative health services ultimately resulting in the diminishing health related quality of life physically, mentally, and socially – corresponding with a heightened risk of mortality.

This research aims to address a critical gap in healthcare policy by examining actionable strategies to mitigate the financial toxicity and its impact on patient care. Through comparative policy analysis, the study examines current legislative efforts focused on drug and insurance reform to assess capacity and identify areas in need of improvement. Drawing on established policy frameworks – including Medicaid, Medicare, and key provisions of the Inflation Reduction Act – while also considering the potential implications of the Bill Beautiful Bill to provide policy recommendations. Recommendations that seek to improve and develop policy models promoting access and affordability to life-saving treatments, contributing to a more equitable and sustainable health policy landscape.