According to the United Brain Association, stroke is the leading cause of severe long-term disability in the U.S., which can impact the employment prospects of stroke survivors. It’s easy to see that the potential combination of reduced income and increased medical costs could take a toll on your wallet.
While stroke survivors can face financial hardships during rehabilitation and beyond, financial assistance programs and other resources can help to address some of these concerns. A case manager or social worker who is familiar with these resources can offer you guidance.
Factors That Can Affect Your Financial Situation After a Stroke
Stroke survivors may face financial difficulties from different directions, with more money going out and less coming in. The main factors are:
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- Increased medical costs – A 2014 estimate from the American Stroke Association puts the lifetime costs of stroke at more than $140,000. And there are many indirect costs that can come into play. For example, caregivers aren’t covered by health insurance. You may also have to pay considerably more for your health insurance if you’re unable to work and need to go on COBRA.
- Reduced income – Not only may the stroke survivor have to reduce hours or stop working completely, but other household members who contribute financially may also have to work less and face a reduction in income due to the increased amount of time spent providing care for the stroke survivor.
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Finding Financial Resources to Help
Stroke survivors can work with a social worker, patient advocate or case manager to identify financial resources that they may be eligible for, such as:
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- Social Security Disability – if denied initially, can work with a law firm or other advocate to assist.
- Prescription assistance programs
- Caregiver assistance programs
- Private resources
- Previously purchased short-term or long-term disability insurance policies
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A social worker or case manager can help you learn what programs you’d be eligible for. Your physician, home health service or health insurance company can help you connect with one of these professionals. Patient advocates (www.patientadvocate.org) can also help to navigate health care billing and other financial aspects of stroke rehabilitation and services.
Additionally, the American Stroke Association has published a helpful guide that covers post-stroke financial concerns: https://www.stroke.org/-/media/Stroke-Files/Stroke-Resource-Center/Recovery/Patient-Focused/Financial-Guide-After-Stroke-ucm_474359.pdf
The financial aspects of stroke can feel overwhelming and stressful, so make sure that you are taking advantage of all of the resources available to support you in this area.