How to Help a Loved One Pay for Prescription Costs During Medical Treatment

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CaringWays® Spotlight: Stephen Murray, Engagement Specialist

Medical Fundraising

Financial Challenges and Medical Expenses Patients Have During the Holidays

October 7, 2022

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There are numerous factors that create financial stress after a diagnosis or medical emergency. Prescription costs have become one of the heaviest burdens for many patients. It’s not uncommon for patients to borrow money or cut back on other household expenses like food, utilities, or driving to help pay for the medicine they need during treatment. Some have skipped the care they need because they can’t afford medications.

When insurance can’t—or won’t—cover medication costs, or the out-of-pocket costs become too high, patients may feel like they’ve run out of options. This is why starting a CareFunding campaign can be such a meaningful way to help your loved one pay for prescription costs during medical treatment. 

The Financial Challenges of Paying for Prescription Costs

Under the current healthcare policies, the average high-deductible health plan has a $1,400 deductible for an individual and a $7,000 maximum for out-of-pocket costs. Yet, Americans spend about $1,200 each year on prescription drugs. There is an incredibly tight margin between insurance deductibles and prescription costs. An unexpected medical emergency or cancer diagnosis adds an additional financial burden that can make it even more difficult to pay for prescriptions. 

Here are just a few statistics that highlight the financial challenges related to paying for prescriptions: 

  • 40% of American adults in the past six months have struggled to afford health care, including prescription drugs. (Source)
  • 1 in 4 Americans has skipped or delayed care or prescriptions because of the cost. (Source)
  •  The average annual cost of oral prescription drugs for cancer patients is $4,200. (Source)

CaringWays® Provides a Way to Help Pay for Prescriptions

Whether you or your loved one just received a cancer diagnosis or experienced other medical events, CaringWays® is designed to provide a safe and secure way to help patients pay for medical expenses such as prescription costs and other healthcare-related needs. 

Here are a few specific reasons why starting a CareFunding campaign could be the best way to help your loved one pay for prescription costs during their medical journey:

1. CaringWays® is a safe and secure way to accept donations for prescriptions.

Unlike other platforms, CaringWays® was built specifically for medical fundraising and offers patients a more focused way to collect financial support. This means that the donations received go directly to help patients pay for prescriptions, medical bills, and other expenses that are essential during their medical journey.

2. CaringWays® helps patients avoid the stress of finding ways to pay for their prescriptions.

Finding affordable prescriptions can often require jumping through hoops. In some cases, patients spend days trying to navigate all the red tape, only to learn they still can’t afford their medication. Starting a CaringWays® campaign eliminates the stress of any paperwork and gives patients peace of mind that they won’t face a financial emergency because of their medical expenses.  

3. It’s quick and easy to set up a CaringWays® campaign.

After a diagnosis or during a medical emergency, treatment is often needed quickly. Patients might not have funds readily available to help pay for the prescriptions they need. CaringWays® makes it easy to set up a campaign so patients can get the funds they need quickly. 

The need for financial support to help pay for prescriptions has never been greater. If you or someone you know could benefit from receiving secure financial support for their medical expenses, CaringWays® is here to help. 

Learn more about what makes CaringWays® different from other crowdfunding platforms, or take the first step by learning how to choose your CareFunding goal for your loved one.

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