If you are living with diabetes, you know it comes with financial pressures as well as medical ones. A recent report from Diabetes Care found the economic burden associated with diabetes was $10,970 per year, according to NPR, a figure that includes health care costs and loss of productivity that can come from illness and disability. Gestational diabetes comes with a cost of $5,800 a year, while undiagnosed diabetes carries an expense of $4,030 per case. Even those with prediabetes create expenses - some $510 per year - even though they are not receiving diabetes care from medical professionals.
According to NPR, the costs tend to be higher for older people, which may be the case because complications that are very serious take time to develop.
While not every individual with diabetes will personally have to shoulder costs of this magnitude, diabetes - like all chronic illnesses - requires financial as well as medical planning. Choosing health insurance that helps pay for your diabetes expenses is a vital component of managing your diabetes care, of course. You may also like to set up an appointment with a financial advisor to help you better understand what diabetes costs you and budget for the future.
Managing your diabetes well will also decrease its financial impact. Routine care is much less expensive than managing diabetes complications that may arise if your disease isn't managed well. Make sure to talk to your doctor about your diabetes care, and to create a plan that you are confident you can follow. You can also make healthy choices around diet and exercise that will help you live well with diabetes and prevent the costs and trouble that complications can bring.