Diabetes is a disease that damages nerve endings and blood vessels and can lead to severe complications such as blindness, kidney failure, heart attack, and stroke. At present, 18 million Americans are estimated to have diabetes, and each year an average of one million more are diagnosed the same. The disease can be effectively managed, but treatment is expensive. According to the American Diabetes Association, diabetics pay around $11,744 a year for medical care and supplies needed to monitor and control blood glucose levels. What makes matters worse is that the complications of diabetes make it unlikely for patients to have full-time employment and be eligible for group health insurance benefits. Statistically, people with diabetes are more likely to have a lower income and are prone to social and economic stress in comparison to non-diabetics.
Finding a low-cost health insurance plan is difficult. Most insurance companies consider diabetics "uninsurable" due to the high risk of complications that the disease implies - as most of the complications require specialized medical care. (Even ordinary health concerns would need skilled medical care for patients with diabetes.)
Sometimes coverage is offered, but the prices are so high, often to the point of reducing a diabetic's financial comfort level. Hence, so many elects to be uninsured instead.
Here are some types of health insurance that diabetics can use in combination with Government policies and nongovernment programs to enhance their overall health coverage.
1. Medical Assistance (Medicaid)
Medicaid is a joint program by the Federal and State Government which assists people with diabetes, particularly those with limited income and resources to pay for medical costs. Original Medicare helps pay for the services, supplies, and equipment. Medicaid also covers some preventive services for people who are at risk of being diabetics.
2. State Children's Health Insurance Program (SCHIP)
SCHIP is also a program by the Government that extends health insurance to children from families unable to afford other types of health coverage. This low-cost insurance is available to qualified children below the age of 19.
3. Employer-sponsored group insurance
State laws ensure health insurance is accessible to people if they are employed in companies that give group insurance. Also, most group coverage plans are required to include diabetic supplies. Despite the high price, this is the best option if available.
4. Coverage after Leaving a Job
A person may be able to continue the group insurance provided by the employer for up to 18 months upon resigning - under a Federal law called the Consolidated Omnibus Budget Reconciliation Act, or COBRA. Health coverage through COBRA is more expensive, but it is relatively cheaper than individual coverage. People with diabetes before becoming eligible for COBRA may be able to extend the coverage for up to 29 months.
5. Private Insurance
Diabetics not eligible for Medicare or Medicaid may purchase private health insurance. Many insurance companies regard diabetes a pre-existing condition so that finding coverage may be daunting. Also, insurers have specific waiting periods during which they don't cover diabetes-related expenses for new enrollees; they will, however, cover other medical costs that arise.
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