Understand the Physical and Financial Cost of Diabetes
The best way to avoid the steep costs of a diabetes diagnosis is to control the risks that contribute to it – by managing your weight, eating healthy foods, exercising and quitting smoking.
Virtua certified diabetes educator and nurse Lois Gerst has some critical information about the cost of diabetes care that can help save your health—as well as your life savings.
Affecting 10% of the American population (and growing), diabetes was responsible for $176 billion in direct medical costs, plus an additional $69 billion in lost work, disability and premature death in 2012. And that’s just the financial impact. The physical complications can be disabling and even deadly.
The Financial Cost of Diabetes
Healthcare laws and available coverage have changed dramatically in the last few years. Controlling diabetes requires expensive blood sugar testing supplies, medications, and visits to a primary doctor as well as specialists. A recent study showed that the average annual cost for managing diabetes is $5,378 and increasing.
- Blood sugar test strips, which cost up to $1,500 per year, are usually covered by Medicare, Medicaid, and private insurance.
- Prescription medications are the greatest contributor to cost of managing diabetes. They are not always fully covered by insurance, so it’s helpful to know if generic substitutes are available. Some pharmaceutical companies offer co-pay assistance or other programs to reduce the cost for patients with low or limited income.
- Co-pays for primary care and specialty visits may vary, and you may have a deductible to meet as well. It’s important to call your insurance company (the phone number is on the back of your insurance card) to determine your out-of-pocket costs.
The Physical Cost of Diabetes
If you have diabetes, and you don’t seek treatment or can’t afford it, the physical effects can be devastating.
- Chronic high blood sugar damages all blood vessels and nerves in the body. The most common long-term complication is damage to the large blood vessels, which can result in heart attack, stroke, and peripheral vascular disease.
- Damage to tiny blood vessels, especially in the eye and kidney, can result in blindness and kidney disease or kidney failure.
- High blood sugar can lead to gum disease. Good oral hygiene and twice-yearly visits to the dentist can help prevent this condition.
- People with diabetes are far more likely to have a foot or leg amputated than other people. Nerve damage in the extremities – especially the feet – can make a person more susceptible to injuries (because they can’t feel the pain). Even blisters or callouses can turn into serious wounds that increase a person’s risk for severe infection and amputation. It’s vitally important to take very good care of your feet if you have diabetes and check them regularly for problems.
For more information on how to prevent and manage diabetes and for assistance determining your insurance coverage or acquiring financial assistance, call 1-888-VIRTUA-3 and ask to speak to a Virtua diabetes educator. Virtua Diabetes Care offers group classes, support groups, and personal counseling to assist patients and families who need help managing diabetes.
Updated December 27, 2018