Let’s be upfront—financial resources to help patients diagnosed with cancer, especially at late-stages, is limited. We’re sharing this candid truth because we want patients and families to manage their expectations and make the best possible decisions with the options available. Time is a critical factor when it comes to cancer, as tumours replicate every six weeks, making timely intervention crucial. For seniors diagnosed at Stage 3 or 4, the race against time becomes even more urgent before the cancer metastasises and spreads throughout the body.
Can I Get Targeted Therapy and Immunotherapy Cancer Financial Aid in Public Hospitals?
It’s a sad reality that 65% of cancers in Malaysia are diagnosed at a late stage, requiring complex and expensive treatments such as targeted therapy and immunotherapy. The situation becomes even more challenging for retired government pensioners who assume that their Pension Card will cover these treatments in public hospitals. However, the hard truth is that targeted therapy and immunotherapy are not covered.
Here’s what often happens at institutions like the National Cancer Institute (IKN) or Hospital Kuala Lumpur (HKL): while initial consultations and basic treatments may be covered, patients are often asked to purchase expensive medications from external specialist pharmacies for infusion at the hospital. This is because public hospitals simply do not have the budget for these costly treatments. In fact, the National Cancer Institute’s 2020 report shows that their allocation for cancer drugs was RM115 million—which, when divided among 70,229 patients served in 2020, amounts to only RM1,640 per patient. This is a far cry from the RM20,000 per cycle required for drugs like Keytruda (pembrolizumab), with patients needing typically multiple cycles.
University hospitals such as University Malaya Medical Centre (PPUM) and Hospital Canselor Tuanku Muhriz UKM (HUKM) face similar budgetary constraints, leaving people with cancer struggling to find affordable medical treatments.
Would My Private Hospital Provide A Helping Hand and Offer Cancer Financial Assistance?
While some seniors turn to private hospitals for quicker access to surgery and treatment, the reality is that private healthcare operates on a for-profit model. This often means upfront cash deposits are required before treatment can begin for those who are uninsured and self-pay. Many patients face the indignity of having to make top-up payments while still in treatment, often with a payment console brought to their bedside.
Zero-percent credit card instalment plans are frequently advertised as a “solution,” but for retirees without income, these are simply debts that need to be repaid in one or two years. And while sympathetic private oncologists may offer fee waivers, costly components like hospital charges, lab tests, and medications remain significant barriers to affordable cancer treatment and care.
How Breast, Prostate, and Colon Cancer Charities Provide Financial and Medical Aid
Although several cancer charities in Malaysia provide aid, their funding options is often limited. Charities like MAKNA and National Cancer Society Malaysia (NCSM) do their best to offer various forms of assistance to patients, but the scale of support varies given their reliance on public donations. For instance, MAKNA’s Bursary Assistance Programme helps with basic needs such as medication and equipment within public hospitals – it is far from sufficient to cover the high costs and requirements of advanced cancer treatment.
What About Pharmaceutical Companies’ Patient Assistance Programs For Their Cancer Treatment?
Pharmaceutical companies often offer cancer patient assistance programs, especially for those requiring targeted therapy or immunotherapy for various types of cancer. These programs may be able to help with discounts or “buy 1, get 1 free” offers, but patients are still left with hefty bills, often amounting to RM5,000 to RM20,000 per treatment cycle. While these initiatives are helpful, they still leave patients struggling with a significant financial burden.
Can EPF Withdrawals Provide Cancer Financial Aid?
EPF (Employees Provident Fund) withdrawals are an option for cancer financial support, but this option often falls short for seniors. Many EPF contributors withdraw their savings at age 55 and deplete their funds within a few years, leaving little to no savings when they get their cancer diagnosis in the later stages of their lives. Additionally, adult children can only tap 10-25% of their own EPF savings to help fund their parents’ cancer treatments—a noble gesture, but often insufficient given the high costs involved.
Is Crowdfunding a Viable Option?
In Malaysia, crowdfunding for cancer financial aid is still relatively uncommon, partly due to cultural sensitivities. Many families prefer to keep their health battles private, and the notion of sharing personal medical conditions online can feel uncomfortable, especially in Asian societies where the concepts of privacy and shame still hold weight. While crowdfunding can work in some cases, it’s not always the best solution for seniors or their families.
The Bottom Line: Cancer Financial Aid for Seniors Is Limited
For seniors battling cancer, the options for cancer financial assistance—whether from hospitals, charities, or pharmaceutical companies—are limited. Children may want to help by using EPF savings, but these contributions are often insufficient, and crowdfunding can feel culturally inappropriate.
Enter KALSIS: A New Form of Financial Help To Mitigate The Cost of Cancer Care
At KALSIS, we recognise the need for seniors to overcome financial access and treatment barriers, especially those who are uninsured or underinsured. That’s why we created a scheme that allows seniors to access the wealth locked in their homes to fund their cancer treatments and cover out-of-pocket expenses.
Here’s how KALSIS works:
Seniors sell their home titles to KALSIS at market value.
- In Year 1, they receive a lump sum payout (10% of their home’s value) to cover immediate medical expenses.
- From Year 2 onwards, they receive monthly lifetime annuities (4% of the home’s value annually) to help with ongoing living and healthcare costs.
- The best part? Patients may continue to live in their homes without having to move, ensuring their dignity and comfort throughout their cancer journey.
Why KALSIS Is the Better Option At Providing Financial Support?
KALSIS allows seniors to avoid relying on the above-mentioned limited options and instead tap into the value of their own homes. Unlike other forms of cancer financial aid, KALSIS provides certainty—if you meet the eligibility criteria, you will get the funding. Supported by Kenanga Investors Berhad and institutional investors, KALSIS is a capital markets-driven solution that gives seniors the flexibility and security they need during one of the most challenging times of their lives.
Resources To Help You Make the Best Decision for Your Cancer Care and Future
The ancient Chinese proverb “靠人不如靠己” translates to “It is better to rely on yourself than to rely on others.” KALSIS embodies this wisdom by offering seniors the financial independence to support themselves without burdening their families. With KALSIS, seniors can rest assured knowing they have a roof over their heads for life and lifetime payouts to cover their healthcare and living expenses.
We hope this article has provided a comprehensive overview of how KALSIS can be your best option for cancer financial support. Take the time to discuss your options with your family and loved ones—because the decisions you make today can ensure a brighter, more secure tomorrow.
For more information, visit our website or contact us.