Changes in Insurance Raises Costs for Diabetes

Diabetes is one of the most common chronic illnesses in the developed world, and it’s one with more difficulties than you find represented in medical records. For many, diabetes is a financial nightmare. In the United States, where the Affordable Care Act, and its provision for people with pre-existing conditions, is in vulnerable political territory. Even with the ACA, many diabetics find it difficult to coax their insurances companies into paying for the very treatments that keep them alive! This being the case, it’s important for diabetics in America and elsewhere to constantly be adding to their knowledge of insurance, as it pertains to the disease they’re stuck with.

Life Insurance

Life insurance for diabetics isn’t as easy to get as it is for the general population. Life insurance companies are sometimes hesitant to insure diabetic persons, because they represent a significant risk for a hefty payout in the event of the individual’s death. On the other hand, much of this difficulty is the result of providing all of the complex information an insurance underwriter needs in order to provide life insurance for a diabetic person. If you collect the information in an orderly way, you’ll have a much better time of securing your own insurance.

It is important for you to document just how effectively medications, as well as diet and exercise, positively affect your diabetic symptoms. When the insurance underwriter has an accurate representation of your disease history, medical records, and personal lifestyle factors relevant to your disease status, they will be able to draw up an insurance policy for you with much more confidence. If you provide only sketchy details, they may not be able to find something that works for you.

People with Type 1 Diabetes will have a harder time finding coverage then people with Type 2 Diabetes, Pre-Diabetes or Gestational Diabetes.  Along with having fewer options, most insurance companies will also have higher premiums, then people who do not have diabetes.  However, getting coverage is possible, and probably more affordable then you think.  People with Type 1 Diabetes can even qualify for Non Medical Exam policies.  These plans work great for the individual who does not want to meet with a Nurse, and have blood and urine collected.

If you are one of the 29 million people who have Type 2 Diabetes or Pre-Diabetes, you will have an easier time finding companies who would possibly offer coverage.  Again, you’d have Non medical Exam options, as well as traditional “fully underwritten” options.  Generally, individuals with Type 2 Diabetes will be offered lower rates, they People with Type 1 Diabetes.  Depending on age of your diagnosis, control of Diabetes, and other health factors, a person with Type 2 Diabetes could receive a Standard to Preferred rating from certain companies.

Life insurance companies have come along ways in terms of underwriting people with Diabetes.  There are many, many more options, as well as more favorable ratings for Daibetics.  It’s important to work with an Agent who is knowledgeable, and who can navigate the application process with you.

Health Insurance

Health insurance is available in most developed countries for people with diabetes. But even in the United States where healthcare is guaranteed for people with pre-existing conditions, there are a number of factors which may prevent a diabetic patient from receiving affordable health care.

One of these is living in a state where Medicaid has not been expanded. The ACA guarantees subsidies for people beneath the poverty line. However, a number of conservative states chose to block these Federal subsidies, leaving hundreds of thousands of their own citizens without any financial help at all. Many of these people are beneath the poverty line. There is only so much you can do in this situation, other than lobby for Medicaid expansion or move to another state.

Even for people in states with expanded Medicaid, limited insurer options and difficulty with insurance bureaucracy make it difficult to a good health care plan, and to get full reimbursements and subsidies. It may take extra time on the phone, but make sure you work as hard as you can to get what you are entitled to as an American citizen. This may require extra phone calls and emails, but it is worth it.

In the end, most diabetics can get good insurance, even if they have to work somewhat harder than most other people.

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