On August 31, 2020 The HealthWell Foundation, an independent non-profit that provides a financial lifeline for inadequately insured Americans, reported that it has launched a new fund to provide copayment and premium assistance to Medicare patients living with prostate cancer (Press release, HealthWell Foundation, AUG 31, 2020, View Source [SID1234564200]). Through the fund, HealthWell will provide up to $8,000 in financial assistance for a 12-month grant period to eligible patients who have annual household incomes up to 500 percent of the federal poverty level.

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"A prostate cancer diagnosis can be overwhelming, scary, and costly. HealthWell’s new copay assistance program is a welcomed option to help patients better afford their prescribed treatment. Especially during the COVID-19 pandemic, financial barriers are more stressful than ever, and this new fund will provide a critical safety net for patients in need," said Jamie Bearse, CEO of ZERO – The End of Prostate Cancer.

Prostate cancer begins when cells in the prostate gland start to grow out of control. Some prostate cancers grow and spread quickly, but most grow slowly. Almost all prostate cancers are adenocarcinomas, which develop from the gland cells. According to the American Cancer Society (ACS), prostate cancer is the second leading cause of cancer death in American men, behind only lung cancer. In 2020, the ACS estimates approximately 192,000 new prostate cancer cases will be diagnosed and over 33,000 deaths will occur as a result of the disease. Approximately 1 in 9 men will be diagnosed with prostate cancer in their lifetime. Prostate cancer is more likely to develop in older men and in African-American men. About 6 cases in 10 are diagnosed in men who are 65 or older, and it is rare in men under 40. The average age at diagnosis is about 66.

"We are pleased to see that financial resources are now available to this patient community," said Joanna Morales, Esq., Chief Executive Officer at Triage Cancer. "As we continue to see a rise in the cost of cancer treatments, addressing the critical need to relieve the financial burden these patients and their families face is paramount. Recognizing these financial disparities, especially among Medicare patients, and providing resources to enable access to treatments that would otherwise be prohibitive due to cost, will help allay the financial impact of a cancer diagnosis."

"A prostate cancer diagnosis can be devastating to the patient and his family and decisions regarding treatments and the costs of those treatments can pose additional stress and anxiety, especially for patients on Medicare," said Alan Klein, Chief Development Officer at the HealthWell Foundation. "We are particularly proud to add this fund to our growing list of available financial resources for the Medicare community. Thanks to the generosity of our donors, we are now able to provide a financial lifeline to ensure that Medicare patients living with prostate cancer are able to start or continue critical, possibly lifesaving, treatments they otherwise would not be able to afford."

To determine eligibility and apply for financial assistance, visit HealthWell’s Prostate Cancer – Medicare Access Fund page. To learn how you can support this or other HealthWell programs, visit HealthWellFoundation.org.