How to Minimize the Cost of Diabetes

How to Minimize the Cost of Diabetes

Jun 29 2016

Chronic diseases are a double-whammy, impacting your health and your finances.

There is a diabetes epidemic in Michigan. The American Diabetes Association indicates that one in 10 Michigan residents suffers from the condition. And unfortunately, Michigan is currently ranked No.5 in the country when it comes to the prevalence of obesity.

The odds are stacked against us in Michigan, especially as the frigid winter temps make it difficult to stay active throughout the year.

However, the good news is if you have the condition, you are not alone and you can proactively manage it to decrease your risk of complications and reduce the financial burden.

And, if you are on the verge of diabetes, you can take steps to hopefully avoid developing the condition altogether.

Manage your health

Don’t shrug off your diagnosis. Diabetes is a serious disease, and you need to take care of yourself to feel better today and stay healthy in the future.

That means making the right food choices, maintaining a healthy weight, exercising and taking your medicine – even when you’re feeling good.

For more information about managing your diabetes, check out 5 Tips to Control Your Diabetes Symptoms or Avoid it All Together.

1 in 5 health care dollars spent on diabetes care, insurance helps

According to the American Diabetes Association, one of every five U.S. health care dollars is spent on diabetes. Medical expenses average $13,700 a year for people with diabetes, and nearly $8,000 of that is spent on diabetes-related prescriptions, supplies, doctor visits, hospitalizations and more.

Health insurance can be a lifesaver both financially and health-wise.

Although co-pays and deductibles apply, most plans cover:

  • Doctor visits (primary care, endocrinologists, diabetoloists, ophthalmologists, optometrists  medical nutritionists, educators, podiatrists and mental health support)
  • Insulin and oral medications
  • Glocometers
  • Blood glucose test strips
  • Insulin pumps and continuous glucose monitoring systems
  • Shoe inserts and diabetic shoes

Your insurance company can assist in the management of your condition by offering you a nurse case manager. This person helps you avoid complications and, in some cases, works directly with your doctor to be sure you get the care you need.

Money-saving tips

Why not save money when you can on the cost of diabetes? Here’s how:

  • Get prescriptions delivered. Many health plans let you save money when you order your drugs from a home delivery pharmacy. Sometimes you can get a three-month supply for the cost of a two-month supply. Ask your doctor to write a 90-day prescription so you can take advantage of this deal.
  • Ask for free glucose monitors. Some plans, like Priority Health, have relationships with vendors who provide free glucose monitors.
  • Check your options. Sometimes you can get the same supplies you need to manage your condition from a pharmacist or a durable medical equipment (DME) supplier. It’s important to compare co-pays so you can get the best value. In some cases, DME’s are cheaper. Many plans also have “preferred suppliers” that will charge you less.

Your chronic condition doesn’t have to control your life. While your diagnosis can feel overwhelming, there’s lots of support available to make living with the condition, and the accompanying expenses, more manageable.

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