Currently, diabetes affects more than 30 million people in the United States, and that number continues to grow. In 2017, the Centers for Disease Control (CDC) reports that medical costs and lost work and wages for people with diagnosed diabetes totaled $327 billion, up 33% over a 5-year period. And that’s just the financial impact. When diabetes remains uncontrolled, high blood glucose can lead to devastating long-term complications.

This critical information about the cost of diabetes care can help save your health—as well as your life savings.

The financial cost of diabetes

Health care 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. The CDC notes that people diagnosed with diabetes incur on average $16,750 annually in medical expenses. That’s about 2.3 times the medical expenses of a person without diabetes. 

• Blood sugar test strips, which cost up to $1,500 per year, are usually covered by Medicare, Medicaid, and private insurance when you have a diagnosis of diabetes.
• 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 help 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.