Finances & Insurance

Unfortunately, real life doesn’t stop, even if cancer rears its ugly head. Most importantly though, KEEP ALL OF YOUR RECEIPTS! Parking at the hospital, medications, all of it. There may be several resources available to you to cover certain expenses and make sure financial stress doesn’t layer on top of your cancer stress.

As part of your cancer team, you will have access to social workers who can help you navigate all the life and financial challenges that you may face along your journey. This is not a comprehensive list, but here are some things to ask and think about:

Work & Insurance

WORK

There may be options around short-term and long-term disability coverage. Ask your HR representative for more information.

INSURANCE

A number of resources may be available to you to cover your costs, including Employment Insurance during leaves of absence:

  1. PARENTS Check with your parents to see if you’re still under them (25 and under may still be considered a dependent.
  2. SCHOOL Check with your school to see if you have opted into their health policy. You may have some coverage.
  3. WORK Checking to see what coverage you have through work.
  4. PRIVATE INSURANCE If you have private insurance, be sure to talk to representative on the best way to help you get the most coverage!

EMPLOYMENT INSURANCE
(EI) SICKNESS BENEFITS

You may be eligible for some benefits here. Check out www.canada.ca/en/services/benefits/ei/ei-sickness or call 1-800-206-7218 for more information (we’d recommend pressing zero to talk to someone… it’s faster).

Banking & Finances

BANK/DEBT

See what coverage you might have through things like your mortgages or lines of credit. If money is tight, you can discuss payment plans with them too.

Review your credit protection coverage on all your credit products: loan, lines of credit and mortgage. Most banks offer critical illness or disability protections that can lessen the burden if you accepted the coverage.

Set-up automatic minimum payment authorizations on your credit cards and line of credits. Forgetting even a few payments can damage your credit.

Ask for a financial statement of all accounts held at the bank and store it somewhere safe. This is practical if ever someone else has to help manage your finances. Some of this might be necessary in order to access various forms of financial assistance.

Ask your bank about their policy on skipping credit product payments. Most banks offer flexibility for a few payments if you are unable to make payment for unexpected expenses. It may not be necessary immediately, but you can benefit further down the road.

In cases where you may be unable to attend the bank, set-up online banking and phone authentication services with your bank. You will be able to complete almost all transactions needed like address changes, bill payments, investment purchases and sales, transfers, etc..

Create a relationship with someone at the bank and keep returning to that individual. They will know your story; it will save a lot of time explaining your situation and they will be able to have a better picture of your situation.

FINANCIAL ASSISTANCE

It’s hard enough for most people to pay for the basic amenities on a low income, imagine how hard it would be if you’re young man who is having to pay thousands of dollars for live saving medication? Talking about kicking someone while their down. Thankfully, helping navigate the world of financial assistance is one of the main job functions that social workers can provide.

The common first major financial transaction a man has to prepare for is the initial deposit and year of storage for their sperm at the regional fertility clinic. These are private corporations with no provincial or federal assistance available. The first payment is around $750 and patients may need assistance with the initial payment, which is why there are several financial assistance programs that may be applicable to you and your situation.

Oneball has financial assistance available as well! The Davis Falniuk Economic Relief Program which is a first of its kind in Canada with all transitions being completely digital. If you or someone you care about is a Oneballer who needs help, please contact support@oneball.ca or get in touch with Tom Baker Cancer Centre’s Department of Psychosocial Oncology at 403-355-3207.

Oneball DFER Program