Diabetes Financial Help

Here’s what you need to know about getting Diabetes Financial Help.  

If you are new to diabetes, you need to know that diabetes is a chronic disease of absolute or relative insulin resistance and or deficiency. It is characterized by problems with carbohydrate metabolism. Known as the “fat storage hormone”, insulin transports glucose into human cells for use as energy and storage as glycogen. 

It also stimulates protein synthesis and free fatty acid storage in the adipose tissues. People can both have too much and too little insulin.  Insulin deficiency can compromise the body’s absorption of essential nutrients for fuel and ultimately storage. Diabetes is a progressive illness leading to many complications over a lifetime.  Here is a big problem that people don’t talk about much; once you are diagnosed with the diabetes finding an insurance company to cover you becomes very difficult.

Getting Diabetes Financial Help is Difficult.

Diabetic patients applying for diabetes financial help in the individual private healthcare market usually encounter many financial challenges to afford adequate coverage and in most cases are prevented from obtaining a policy altogether if they have not met strict requirements as mandated by HIPPA.  

There is a light at the end of this tunnel though, since recent legislation has enacted mandates to offer assistance for applicants applying for health insurance with certain preexisting conditions including diabetes, though there is still much debate on the issue of reasonable or equitable pricing.

Adverse Selection

Health insurance firms are incorporated as profit-driven enterprises.  As such the concerns they usually have insuring diabetic patients gravitate around the concept of economic feasibility and profitability. Two acute metabolic complications of diabetes are hyperosmolar coma and ketoacidosis …potentially costing an insurer thousands of dollars soon after placement or inception of a new policy. These life-threatening medical conditions require immediate intervention and can happen without any warning to a diabetic patient at any given point in time.

 Patients with diabetes also have a higher risk for a variety of chronic illnesses which affect virtually all of the systems in their body. The most common chronic complications include peripheral vascular disease, nephropathy, retinopathy, diabetic dermopathy, cardiovascular disease, and peripheral autonomic neuropathy.

 All these co-morbid medical conditions are very expensive costing hundreds of thousands of dollars per year to treat.  In addition, nearly two out of every three people with diabetes die because of cardiovascular disease. Diabetes is also the number one cause of renal failure and new adult blindness.

What Can a Person with Diabetes do to get Health Insurance or Financial Aid?

If you or someone close to you has been diagnosed with diabetes and do NOT meet specific HIPAA requirements, here are still some options for getting diabetes financial help. For example, if a diabetic is blind, disabled, aged over 65, on a limited income or have limited financial resources then health insurance agencies can connect you with a qualified caseworker to help you apply for state assistance. 

Next, you can contact the pharmaceutical manufacturing companies that provide lancets, insulin and test strips. Each manufacturer has their own set of criteria that need to be satisfied for an individual with diabetes to qualify for financial assistance to purchase testing supplies.

The last possibility for diabetes financial help are guaranteed issue plans. There are some guaranteed issue plans available in the private healthcare market that are designed specifically for diabetics that provide comprehensive coverage and some that are even sponsored by The American Diabetes Association.

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