{"id":205133,"date":"2018-06-10T18:02:54","date_gmt":"2018-06-10T18:02:54","guid":{"rendered":"https:\/\/5f17670acf5743285.temporary.link\/rohsi.org\/?p=205133"},"modified":"2018-06-10T18:22:13","modified_gmt":"2018-06-10T18:22:13","slug":"understanding-the-costs-of-diabetes-treatment-and-planing-for-the-future","status":"publish","type":"post","link":"https:\/\/rohsi.org\/?p=205133","title":{"rendered":"UNDERSTANDING THE COSTS OF DIABETES TREATMENT AND PLANING FOR THE FUTURE"},"content":{"rendered":"<p><a class=\"hero--blog-post__author-link\" href=\"https:\/\/www.thesimpledollar.com\/author\/devonne-goode\/\">By: <strong>DeVonne<\/strong> Goode<\/a><\/p>\n<section class=\"hero hero--blog-post\">\n<div class=\"hero--blog-post__inner-wrapper row collapse\">\n<div class=\"column small-10 small-push-1 desktop-12 desktop-push-0\">\n<div class=\"hero--blog-post__categories\"><a class=\"hero--blog-post__categories-link button button--pill\" title=\"Health\" href=\"https:\/\/www.thesimpledollar.com\/category\/health\/\">Health<\/a><\/div>\n<\/div>\n<\/div>\n<\/section>\n<div class=\"template--blog-post__inner-wrapper\">\n<div class=\"template--blog-post__left-column\">\n<section class=\"section section--post-body\">\n<div class=\"row collapse\">\n<div class=\"small-10 small-push-1 desktop-12 desktop-push-0 column\">\n<div class=\"section--post-body__content-wrapper content-text-simple content-text-simple--blog\">\n<p>Diabetes is a prevalent disease. However, it can still take many by surprise, and leave them struggling to pay medical bills.<\/p>\n<p>With the complexities of the condition and the wide range of costs involved with treatment, having a financing plan is necessary. Health insurance is obviously one of the primary methods of assistance. But not everyone has the adequate coverage to cover<br \/>\nthe costs \u2013 let alone the out-of-pocket cash to put on the counter every time out.<\/p>\n<p>Opening a savings account, particularly one with high interest, could be a worthwhile investment toward consistently managing the disease today and into the future.<\/p>\n<h2><span id=\"diabetes-at-a-glance\">Diabetes at a glance<\/span><\/h2>\n<p><strong>Type 1 Diabetes<\/strong><br \/>\nA condition that keeps the body from producing enough insulin. Insulin shots are used to control blood glucose levels. Most diagnoses occur among children and young adults, which is why it is also referred to as juvenile diabetes.<\/p>\n<p><strong>Type 2 Diabetes<\/strong><br \/>\nThe most common form of the condition where the body doesn\u2019t properly use insulin to convert sugar, starches and other food into energy.<\/p>\n<p><strong>Gestational Diabetes<\/strong><br \/>\nOccurs when women experience high blood glucose levels during pregnancy. It\u2019s usually easily managed and goes away after pregnancy.<\/p>\n<p><strong>Prediabetes<\/strong><br \/>\nWhen blood glucose levels are higher than normal, but not high enough to be diagnosed as Type 2 diabetes. A large number of Americans are living with prediabetes (1 out of 3 adults). But taking early action to manage glucose levels can prevent diabetes from forming.<\/p>\n<p>People who have diabetes are at higher risk of developing the following health conditions:<\/p>\n<ul>\n<li>Blindness<\/li>\n<li>Heart disease<\/li>\n<li>Stroke<\/li>\n<li>Kidney failure<\/li>\n<li>Blindness<\/li>\n<li>Loss of lower appendages (toes, feet, or legs)<\/li>\n<\/ul>\n<p>Keep in mind \u2013 these conditions occur in the case of severe complications with the disease. With consistent attention to diet and other medical treatments (like most living with type 1 or type 2 diabetes undergo), these conditions are avoidable.<\/p>\n<h2><span id=\"diabetes-by-the-numbers\">Diabetes by the numbers<\/span><\/h2>\n<p>According to a recent report from the Centers for Disease Control and Prevention (CDC), more than 100 million U.S. adults are now living with diabetes or prediabetes. Of that, only 12% were aware that they had it. And with approximately 1.5 million new cases being diagnosed every year, the need for education and financial support is clear.<\/p>\n<div id=\"ig-d5ebf101-57e4-0a73-615a-8414795b4ec5\" class=\"infogram-embed\" data-id=\"b5fc5b6b-d8db-4c53-b02f-c16cdf5f2580\" data-type=\"interactive\" data-title=\"Prevelance\" data-processed=\"1\"><iframe title=\"Prevelance\" src=\"https:\/\/e.infogram.com\/b5fc5b6b-d8db-4c53-b02f-c16cdf5f2580?src=embed\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<div><a href=\"https:\/\/infogram.com\/b5fc5b6b-d8db-4c53-b02f-c16cdf5f2580\" target=\"_blank\" rel=\"noopener\">Prevalence<\/a><br \/>\n<a href=\"https:\/\/infogram.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Infogram<\/a><\/div>\n<h3><span id=\"rates-of-diagnosis-for-the-following-ethnic-groups\">Rates of diagnosis for the following ethnic groups<\/span><\/h3>\n<ul>\n<li>7.4% of non-Hispanic whites<\/li>\n<li>8.0% of Asian Americans<\/li>\n<li>12.1% of Hispanics<\/li>\n<li>12.7% of non-Hispanic blacks<\/li>\n<li>15.1% of American Indians\/Alaskan Natives<\/li>\n<\/ul>\n<p><strong>Breakdown among Asian Americans:<\/strong><\/p>\n<ul>\n<li>4.3% diagnosed were Chinese<\/li>\n<li>8.9% diagnosed were Filipinos<\/li>\n<li>11.2% diagnosed were Asian Indians<\/li>\n<li>8.5% diagnosed were identified as other Asian Americans<\/li>\n<\/ul>\n<p><strong>Breakdown among Hispanic adults:<\/strong><\/p>\n<ul>\n<li>8.5% diagnosed were Central and South Americans<\/li>\n<li>9.0% diagnosed were Cubans<\/li>\n<li>13.8% diagnosed were Mexican Americans<\/li>\n<li>12.0% diagnosed were Puerto Ricans<\/li>\n<\/ul>\n<h2><span id=\"underreported-deaths-due-to-diabetes\">Underreported deaths due to diabetes<\/span><\/h2>\n<p>Diabetes is one of the leading causes of death in the United States (seventh as of 2015). However, studies have found that it is also among the most underreported. According to the American Diabetes Association\u00ae, only 35% of people who died with diabetes had the disease listed on their death certificate. And of that number, only 10% had diabetes identified as the cause of death.<\/p>\n<div id=\"ig-80f9167b-d16b-d871-829e-def4cef6ea8c\" class=\"infogram-embed\" data-id=\"bc0db330-2509-4b1b-b192-4b9789b355e5\" data-type=\"interactive\" data-title=\"Underreported Deaths\" data-processed=\"1\"><iframe title=\"Underreported Deaths\" src=\"https:\/\/e.infogram.com\/bc0db330-2509-4b1b-b192-4b9789b355e5?src=embed\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<div><a href=\"https:\/\/infogram.com\/bc0db330-2509-4b1b-b192-4b9789b355e5\" target=\"_blank\" rel=\"noopener\">Underreported Deaths<\/a><br \/>\n<a href=\"https:\/\/infogram.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Infogram<\/a><\/div>\n<p>There are a number of possible reasons for the underreported rate. But a lot points to the lack of ability to pay for adequate diagnosis and proper medical treatment.<\/p>\n<h2><span id=\"what-specific-costs-will-someone-with-diabetes-have-to-address\">What specific costs will someone with diabetes have to address?<\/span><\/h2>\n<p>If you or your child are diagnosed with diabetes, or you\u2019re told that you have prediabetes, management and prevention take center stage. While a lot involves diet and exercise, medication will inevitably have an effect on your finances as well.<\/p>\n<p>According to the American Diabetes Association\u00ae (ADA), medical costs for a person with diabetes averages out to $16,750 per year (a total of $327 billion nationwide in 2017). Of that amount, $9,601 is attributed to treatment specifically for diabetes. That\u2019s more than twice the medical cost for people without diabetes.<\/p>\n<p>Of the $327 billion nationally, $237 billion was attributed to direct diabetes medical costs and $90 billion was attributed to indirect costs \u2013 absenteeism and reduced productivity at work. Understanding the different forms of diabetes treatment, as well as the direct and indirect costs, is important for wrapping your head around plans for financing.<\/p>\n<table class=\"responstable\">\n<tbody>\n<tr>\n<th>Type<\/th>\n<th>Treatments<\/th>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td>Type 1 Diabetes<\/td>\n<td>\n<ul>\n<li>Diet<\/li>\n<li>Exercise<\/li>\n<li>Insulin therapy<\/li>\n<li>Regular blood glucose tests\/monitoring<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Type 2 Diabetes<\/td>\n<td>\n<ul>\n<li>Diet<\/li>\n<li>Exercise<\/li>\n<li>Insulin therapy<\/li>\n<li>Other medication<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Gestational Diabetes<\/td>\n<td>\n<ul>\n<li>Diet<\/li>\n<li>Exercise<\/li>\n<li>Monitoring sugar intake<\/li>\n<li>Monitoring the baby<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"responstable\">\n<tbody>\n<tr>\n<th>Direct Medical Costs ($9,601\/year)<\/th>\n<th>Indirect Medical Costs ($90 billion nationally)<\/th>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td>Prescription medication (30% of total cost)<\/td>\n<td>Loss of productivity due to mortality ($20 billion nationally)<\/td>\n<\/tr>\n<tr>\n<td>Hospital care (30% of total cost)<\/td>\n<td>Inability to work as a result of diabetes ($40 billion nationally)<\/td>\n<\/tr>\n<tr>\n<td>Routine doctor\u2019s office visits (15% of total cost)<\/td>\n<td>Reduced productivity while at work ($30 billion)<\/td>\n<\/tr>\n<tr>\n<td>Other medications and supplies (25% of total cost)<\/td>\n<td>Reduced productivity due to increased absences and loss of employment from diabetes ($6 billion)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span id=\"insulin\">Insulin<\/span><\/h3>\n<p>Insulin injections are one of the primary forms of medical treatment used to manage diabetes. Especially for those living with type 1 diabetes, who can\u2019t produce insulin of their own, these types of injections are vital for survival. However, the cost for insulin has skyrocketed in recent years, leaving many in the position of having to choose between going into debt or cutting back on medication.<\/p>\n<p>The average cost for insulin as of 2015: $100-$200 per month<br \/>\nAn average cost for insulin as of 2018: $400-$500 per month<\/p>\n<table class=\"responstable\">\n<tbody>\n<tr>\n<th colspan=\"2\">WIDELY USED INSULIN BRANDS AND INSULIN INJECTION TOOLS<\/th>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td>Insulin<\/td>\n<td>Apidra, Humulin, Lantuo, Lente, Levemin, Novolog, Novolin, NPH Insulin, Regular Iletin, Regular Insulin, Velosulin<\/td>\n<\/tr>\n<tr>\n<td>Insulin Syringes<\/td>\n<td>BD Ultrafine, Levemir\u00ae, Monoject, NovoFine\u00ae, Ulticare, UniFine, UltiGaurd<\/td>\n<\/tr>\n<tr>\n<td>Insulin Pumps<\/td>\n<td>Animas, Deltec, Medtronic<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/dZTSJfk-waQ?feature=oembed\" width=\"500\" height=\"281\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<h2><span id=\"diabetes-screenings-and-other-medications\">Diabetes screenings and other medications<\/span><\/h2>\n<p>Along with your normal doctor\u2019s visits, diabetes screenings are an important part of the process for identifying the disease. Specifically, if you have been diagnosed, testing your blood glucose levels will become a regular part of your life. Much of the costs for medications involved should be covered by your health insurance. And there are a number of home testing devices you can invest in to help make things more convenient and cost-effective.<\/p>\n<table class=\"responstable\">\n<tbody>\n<tr>\n<th colspan=\"2\">WIDELY USED DIABETES TESTING BRANDS AND OTHER MEDICATIONS<\/th>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td>Blood Glucose Test Meters and Test Strips<\/td>\n<td>Abbott Freestyle\u00ae, Abbott Flash, Accu-Chek Compact\u00ae, Ascensia Elite, Ascencia Breeze, Ascensia Contour, Lifescan One-Touch\u00a9, Prestige<\/td>\n<\/tr>\n<tr>\n<td>Injectable Medications<\/td>\n<td>Byetta (Exenatide) injection and Symlin (Pramlintide Acetate) injection, Victoza (lLiraglutide- rDNA origin) injection<\/td>\n<\/tr>\n<tr>\n<td>Oral Medications<\/td>\n<td>Acarbose, Avandia, Chlorpropamide, Diabinese, Glipizide, Glucophage, Glucotrol, Gylset, Meglitol, Metformin, Prandin, Precose, Repaglinide, Rosiglitazone (These drugs act in different ways to lower blood glucose levels and may be prescribed in combination with other medication.)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span id=\"diabetes-health-expenditures-according-to-group\">Diabetes health expenditures according to group<\/span><\/h2>\n<p>Depending on whether you or your child has type 1 or type 2 diabetes, total expenditures can vary. Those who manage their condition at home, through diet, exercise, and home testing will have different averages than those needing regular appointments with specialists. According to the American Diabetes Association\u00ae, average total healthcare expenditures for diabetes treatment differ according to gender, race, and states with the highest populations of people diagnosed.<\/p>\n<p><strong>Gender<\/strong><br \/>\nMen: $10,060<br \/>\nWomen: $9,110<\/p>\n<p><strong>Race<\/strong><br \/>\nHispanics: $8,050<br \/>\nNon-hispanic Blacks: $10,470<br \/>\nNon-hispanic Whites: $9,800<\/p>\n<p><strong>States with the highest population of people with diabetes<\/strong><br \/>\nNew York: $21 billion in healthcare expenditures<br \/>\nFlorida: $24 billion in healthcare expenditures<br \/>\nTexas:\u00a0 $25 billion in healthcare expenditures<br \/>\nCalifornia: $39 billion in healthcare expenditures<\/p>\n<h2><span id=\"options-for-diabetes-treatment-financing\">Options for diabetes treatment financing<\/span><\/h2>\n<p>In a recent online survey of 500 adults with diabetes, more than half of the participants acknowledged the medical costs involved has had a negative impact on their finances. Many also admitted to going to \u201cextreme lengths\u201d to cover the costs. These lengths include accruing credit card debt, borrowing money from family or friends, and tapping into a savings or retirement account. Many may feel the need to take some extra financial risks because they don\u2019t feel as supported as they\u2019d like. Understanding your options will help you make the most informed choices.<\/p>\n<h2><span id=\"insurance\">Insurance<\/span><\/h2>\n<p>Government\u00a0<a href=\"http:\/\/www.diabetes.org\/living-with-diabetes\/health-insurance\/\" target=\"_blank\" rel=\"noopener\">insurance<\/a>, such as Medicare and Medicaid provides most of the financial assistance for diabetes care. The military also takes care of a good amount of costs for veterans. The remainder of the cost is covered by private insurance or out-of-pocket cash. According to the National Conference of State Legislatures, 46 states mandate that diabetes be covered under state insurance.<\/p>\n<div id=\"ig-012e7ccc-dcd8-04ed-5253-67e1e79f286e\" class=\"infogram-embed\" data-id=\"bf802eea-af2a-415a-99f1-b08677de2654\" data-type=\"interactive\" data-title=\"Diabetes Health Insurance Coverage\" data-processed=\"1\"><iframe title=\"Diabetes Health Insurance Coverage\" src=\"https:\/\/e.infogram.com\/bf802eea-af2a-415a-99f1-b08677de2654?src=embed\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<div><a href=\"https:\/\/infogram.com\/bf802eea-af2a-415a-99f1-b08677de2654\" target=\"_blank\" rel=\"noopener\">Diabetes Health Insurance Coverage<\/a><br \/>\n<a href=\"https:\/\/infogram.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Infogram<\/a><\/div>\n<p>These states require coverage for diabetes treatment as well as equipment and supplies for home use (insulin, pumps, syringes, test meters). Four states do not have that same insurance mandate, however \u2013 Ohio, Alabama, North Dakota, and Idaho. Anyone with diabetes who live in any of those four states will most likely need to deal with a private insurer or explore other methods of financing.<\/p>\n<p>Coverage from private insurers usually come through employer-sponsored group plans or individual health plans. Advisors would suggest going with employer-sponsored plans, because they offer higher protections due to being subsidized. On the other hand, if you are unemployed and venturing into the individual market, it may be difficult to find affordable coverage. The reason is that diabetes is considered a \u201chigh risk\u201d disease. Insurance companies anticipate a high amount of claims, especially from those with pre-existing conditions. So it will be reflected in the pricing.<\/p>\n<h3><span id=\"hsa\">HSA<\/span><\/h3>\n<p>People who have diabetes but don\u2019t have coverage that\u2019s comprehensible enough for their needs may utilize a\u00a0<a href=\"https:\/\/www.bankrate.com\/glossary\/h\/hsa\/\" target=\"_blank\" rel=\"noopener\">health savings account<\/a>\u00a0(HSA). An HSA is primarily useful for people with high deductibles (at least $1,350 individually, or $2,700 for family). Also, those who are a part of low-income families or don\u2019t live in a \u201cmandate state\u201d may see this as a helpful tool. One big benefit of an HSA is that you take the money with you. There\u2019s no \u201cuse it or lose it\u201d policy like some other savings plans. Being able to set aside pre-taxed dollars to help pay for medical expenses can go along way when trying to manage diabetes.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/8IaHBic7Rv8?feature=oembed\" width=\"500\" height=\"281\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<h3><span id=\"fsa\">FSA<\/span><\/h3>\n<p>Another way to set aside dollars for medical expenses is through a\u00a0<a href=\"https:\/\/fsastore.com\/FSA-Eligibility-List\/D\/Diabetic-Supplies-E226.aspx\" target=\"_blank\" rel=\"noopener\">flexible spending account<\/a>\u00a0(FSA). An FSA is provided through your employer with a $2,650 limit. You can also use it to cover medical expenses for your spouse and dependents. One thing to keep in mind with FSA\u2019s is that they do have an expiration period. You\u2019re generally required to use the funds within your plan year. But your employer may offer extensions at their choosing. The benefit is, it can be used with any type of health plan. And diabetic supplies are eligible to be paid through FSA\u2019s.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/jg15HrGIbU4?feature=oembed\" width=\"500\" height=\"281\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<h3><span id=\"high-interest-savings-account\">High interest savings account<\/span><\/h3>\n<p>If you\u2019re not interested in dealing with your employer for coverage or a flexible spending account, a\u00a0<a href=\"https:\/\/www.thesimpledollar.com\/best-high-interest-savings-accounts\/\" target=\"_blank\" rel=\"noopener\">high interest savings account<\/a>\u00a0could be a good option to explore. It\u2019s just like any other savings account, only with fewer restrictions. Not only are you saving for your medical needs, but your money is also making money. High interest savings accounts are opened through online banks \u2013 which means they don\u2019t have to worry about maintaining branches all over the country. They can offer you higher interest rates, with the benefit of accessing your money whenever you want.<\/p>\n<p>Unlike an HSA, a high interest savings account isn\u2019t tied to a high deductible health plan with a dollar limit. And unlike an FSA, there\u2019s no expiration date on when you can use your money. It removes any additional stress so you can concentrate on managing your condition properly. And as you earn interest, you can still take advantage of a number of\u00a0<a href=\"http:\/\/www.jdrf.org\/austin\/wp-content\/uploads\/sites\/3\/2013\/02\/Financial_Info_2012.pdf\" target=\"_blank\" rel=\"noopener\">outreach resources<\/a>\u00a0available for people with diabetes.<\/p>\n<p>This condition can be a tough one to get a handle on, but it\u2019s not insurmountable. Let your understanding of diabetes, your knowledge of its treatments, and your strategy for tackling costs work in your favor.<\/p>\n<p><a href=\"https:\/\/www.thesimpledollar.com\/understanding-the-costs-of-diabetes-treatment-and-planning-for-the-future\/\" target=\"_blank\" rel=\"noopener\">Understanding the costs of diabetes treatment and planning for the future<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By: DeVonne Goode Health Diabetes is a prevalent disease. However, it can still take many by surprise, and leave them struggling to pay medical bills. With the complexities of the condition and the wide range of costs involved with treatment, having a financing plan is necessary. Health insurance is obviously one of the primary methods [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[60],"tags":[],"class_list":["post-205133","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UNDERSTANDING THE COSTS OF DIABETES TREATMENT AND PLANING FOR THE FUTURE - Rays of Hope Support Initiative<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rohsi.org\/?p=205133\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UNDERSTANDING THE COSTS OF DIABETES TREATMENT AND PLANING FOR THE FUTURE - Rays of Hope Support Initiative\" \/>\n<meta property=\"og:description\" content=\"By: DeVonne Goode Health Diabetes is a prevalent disease. However, it can still take many by surprise, and leave them struggling to pay medical bills. With the complexities of the condition and the wide range of costs involved with treatment, having a financing plan is necessary. 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