Family finances are negatively impacted after a cancer diagnosis.
Caring for a husband or wife with cancer significantly diminishes family income, according to researchers from the University of Georgia Terry College of Business, who tracked changes in employment and income among working-age couples in Canada.
By matching tax returns with health data from Canada, co-researcher Vincent Pohl, assistant professor of economics at UGA, was able to determine that a spousal cancer diagnosis results in a decline in household income by 5 percent among men and 9 percent among women, on average.
“The average annual household income for the working-age couples we studied was about $100,000, so the loss of income per family is about $5,000 to $9,000, which is a pretty substantial decline,” he said. “In a situation where one household member has a devastating diagnosis, it leads to the whole household suffering economically.”
|Read Full Article: A cancer in the family: One spouse’s diagnosis can lower household income | EurekAlert! Science News|