Diabetic Insurance | Diabetes Healthy Solutions

Life Insurance For People With Diabetes

If you have an underlying condition, such as diabetes, getting a life insurance policy can prove to be an uphill task. However, if you are suffering from a chronic health condition this does not automatically disqualify you from life insurance coverage. In fact, most life insurance providers offer life insurance for people with diabetes, but they may have to pay more than people without pre-existing conditions.

The amount you have to pay usually depends on your projected life expectancy. Pre-existing health conditions may shorten your life expectancy, which is the main reason why life insurance coverage for diabetics tends to be significantly costlier compared to life covers for people without pre-existing medical conditions. Even with proper management, diabetes can still cause problems and complications, so most providers regard it as a risk factor.

Factors that influence life insurance rates for people with diabetes

If left unchecked, diabetes can lead to a wide variety of serious medical conditions that can potentially lead to death. Some of the most common diabetes-related complications include:

Hypertension
Obesity
Diabetic neuropathy
Stroke
Obesity
Heart disease
Issues with teeth, eyes, and other organs
Limb amputation
Kidney failure or kidney disease

However, you should note that diabetes may differ from person to person. Life insurance usually rates applicants’ eligibility based on a wide range of factors, such as family medical history, personal medical history, age, lifestyle (such as alcohol consumption and tobacco use), and current age.

Some of the key factors providers consider when determining your insurance rates include:

1. Your current health condition

When setting your life insurance rates, providers want to know how well your diabetes is controlled as well as its potential negative impact on your health in the future. Your insurance company will have you undergo a medical underwriting process that helps determine your risk. This typically includes standard medical questions as well as questions about your diabetes and other diabetes-related conditions and complications you may have.

For instance, you may have to provide accurate answers about your initial diabetes diagnosis, how it is managed (e.g., exercise and diet, insulin, prescription medications, or a combination), your recent blood sugar, your cholesterol ratings, and your blood pressure.

Users who are applying for larger coverage amounts may have to undergo a full physical exam and provide medical records to verify their medical history. There are also life insurance plans available for diabetics who want to apply for life insurance without completing a medical exam, but these policies usually cost more

2. The specifics of your diabetes

Your life insurance rates are also impacted by the specifics of your health condition. For instance, as part of their underwriting process, providers may inquire about the specific type of diabetes applicants have – gestational diabetes, type 1 diabetes, or type 2 diabetes.

People who have all three forms of diabetes can still access life insurance, depending on the diagnosis. However, the coverage provided may be more limited, and the application process more complicated.

Type 1 diabetes

Type 1 diabetes (insulin resistance) is typically more difficult to manage in relation to other forms of diabetes. When you are diagnosed with type 1 diabetes later in life, it basically means that it has affected your body for a relatively short period of time. But, in most cases type 1 diabetes is diagnosed in teens and children, making it even riskier. As a result, it is often associated with higher insurance premiums.

Type 2 diabetes

Type 2 diabetes is typically diagnosed later in life, meaning it has lesser time to impact the body. Diabetics who have learned how to manage their diabetes with exercise and diet are likely to qualify for more affordable rates. However, even type 2 diabetes patients who are insulin-dependent and those who have diabetes-related complications will find that their options are limited and their monthly premium costs are higher largely due to higher risk.

Gestational diabetes

Gestational diabetes is caused by hormonal imbalances in pregnant women. It is typically a temporary condition that goes away soon after birth. However, this is not always the case. If your gestational diabetes goes away, getting a life insurance policy may be easier and more affordable.

The bottom line

If you have diabetes you can improve your life insurance options and lower your rates by adopting simple lifestyle changes such as exercising regularly, eating healthy, following your diabetes treatment plan, and quitting smoking, among others. Be sure to ask your life insurance provider about the available options for applicants with pre-existing conditions and the steps you can take to take out a life insurance policy at a more affordable rate.

Read more about travel insurance for diabetics HERE!

Best Health Insurance for Diabetics

Diabetes is a life-long condition that requires ongoing professional medical care and carries a significantly higher risk of complications such as heart disease, vision loss, diabetic neuropathy, stroke, and more. As a result, medical costs can be quite high.

This can seem daunting at first, but with the right health insurance cover, you can reduce your out-of-pocket expenses and provide adequate preventive care to ensure you remain healthy.

If you are a newly diagnosed diabetes patient, are interested in a new insurance provider, or are simply transitioning to an independent plan, this guide will help you choose the best health insurance cover for diabetes care.

What should you do before choosing a health insurance plan?

Review your medical history

Before changing your health insurance cover, consult your doctor to get an in-depth overview of your medical history. Write down your current medications and correct dosages along with any DME (durable medical equipment) that you need, durable medical equipment is any diabetes-related equipment designed to improve quality of life.

For people with diabetes, this may include insulin pumps and associated supplies, continuous glucose monitors, and blood glucose meters.

Make a list of your health care team

This list includes everyone involved in helping you manage your diabetes as well as your annual appointment schedule for each member. This typically includes specialists such as cardiologists, nutritionists, ophthalmologists, podiatrists, and others.

t’s also important to write down the phone number and address of your preferred lab center, pharmacy, and hospital. These details will help you find the best right cover for your specific needs and situation.

Choosing between a traditional health care plan and a high deductible health plan

Health insurance plans typically require policyholders to pay their monthly premiums as well as a specified amount of deductibles. Deductibles include the total amount paid to doctors, pharmacies, labs, or equipment holders’ needs that are covered by insurance.

Yearly deductibles differ between insurance companies and health care plans but once that amount is met, holders only need to pay the co-insurance or co-pay charge during transactions. Co-insurance and co-pay charges are usually significantly lower compared to the deductible.

An HDHP (High Deductible Health Plan) is an insurance plan that has a higher deductible and lower monthly premiums. While this is a good option for diabetes patients who rarely see their doctors, diabetes patients should avoid High Deductible Health Plans in most instances.

This is primarily because the cost of prescriptions, DME, doctor visits and other items are usually quite high, and paying larger deductibles can make it even more difficult to afford everything you need to manage your condition and stay healthy. Therefore, if you’re unable to buy diabetes supplies on your own, a High Deductible Health Plan might not be the best option for you.

Traditional health insurance covers tend to have higher monthly payments and lower deductibles. Monthly payments are consistent and the deductible is paid off slowly. This makes it easier to afford and budget for diabetes management.

Factors to consider when choosing health insurance for people with diabetes

The health insurance cover you choose can have a huge impact on your lifestyle. Therefore, you should take time to ask questions, do research and compare different insurance policies. This will help you choose something that works for your situation, rather than a plan that makes your life even more difficult.

So what should you consider when choosing health insurance?

1. Costs associated with the diabetes insurance plan

Cost is one of the most factors in choosing an insurance plan that works for you. You want to ensure that the plan is affordable while still providing you with the necessary coverage for a healthy life. Consider the monthly premiums as well as any out-of-pocket expenses such as co-pays, deductibles, and co-insurance payments.

2. What is included in the coverage and benefits?

Be sure to understand everything included in your plan’s coverage and benefits. You don’t want to discover that glucose meters are not covered or you need to buy insulin pumps out-of-pocket after you’ve already signed up and committed your money to the plan.

Find out whether the plan covers specifics such as continuous glucose monitors (CGMs), lancet devices, glucose control solutions, glucose test strips, patch pumps, insulin pumps, glucose meters or monitors, blood tests, lab tests, diabetes-related medications, A1C tests and more.

Ask your diabetes care team for a comprehensive list of what you do in order to make an informed decision about your new insurance plan.

3. Does the plan cover specific treatments and services related to diabetes?

Managing diabetes means patients rely on a variety of prescriptions, diagnostic testing, and medical health devices to stay healthy. Therefore, it is extremely important to ask about coverage and benefits for diabetes-related services, specialists, preventive care, and counseling, as well as the limitations for each. You can work with your current doctor to digest the information and determine what should be included in your insurance cover.

4. Are your current doctors and other professionals in-network?

If you want to switch plans, you may find out that some of the specialists you’ve been working with are no longer in-network. Some insurers do not provide for out-of-network specialists while in other instances, you may have to pay more to continue seeing your current doctor. Check to see if the professions you are currently working with are in-network before switching to a new health insurance plan.

5. Specific services that you can benefit from

There are some types of health insurance covers that offer specific services and benefits to diabetes patients. Some plans may include insulin as a preventive medication, which can reduce your monthly out-of-pocket costs. Ask potential providers whether their plans offer any unique or special aspects.

The bottom-line

While both type 1 and type 2 diabetes are considered pre-existing conditions, health insurance providers will not deny you coverage for it. The Affordable Health Care act requires the healthcare marketplace to provide better and easier access to affordable healthcare plans, including Medicaid and Medicare.

There’s a wide variety of health insurance plans for people with diabetes that can help you properly manage your diabetes and stay healthy, regardless of your situation.

Read more about Travel Insurance for Diabetics HERE!

Travel Insurance Guide for Diabetics

Do you have diabetes and are planning to travel? Finding a comprehensive and affordable travel insurance plan specially designed to cover diabetes can be less straightforward if you don’t know what to look for and where to look.

This guide explains where you can find the best travel insurance plans for diabetics as well as what to look for and traveling tips for people with diabetes.

What do you need to know while traveling with diabetes?

Providers that specialize in medical cover are renowned for offering the best insurance cover for diabetics. When you want to buy travel insurance, providers usually want to know whether you have any medical conditions, including pre-diabetes and diabetes.

Insurers will ask whether you are taking insulin or other medications and whether you suffer from diabetes-related conditions such as high blood pressure.

While it’s not mandatory for people with diabetes to take out specialized travel insurance, having a specially tailored travel insurance plan for diabetes could prove invaluable if something goes wrong. It assures you that you will be covered for any medical emergencies as well as other diabetes-related expenses while you are traveling.

What will my provider ask during medical screening?

When you want to take out travel insurance that covers diabetes, your provider may ask several questions regarding your health. These may include:

Are you taking medication for diabetes?
How many medical emergencies did you have in the last 2-3 years?
Do you have any diabetes-related conditions or complications such as high cholesterol or high blood pressure?

f you are not honest about your health condition, you risk invalidating your claims. Therefore, it is important to declare your diabetes as well as other diabetes-related conditions, even if they are controlled.

Is travel insurance for diabetics more expensive?

Travel insurance premiums vary based on various factors. You may have to undergo a brief medical screening when getting your insurance quote. This gives your provider a clear picture of how your conditions can be best managed.

Some conditions, including diabetes, may have a considerable impact on premiums. Other factors that impact premiums include age, other medical conditions, places you’ll travel to and for how long.

If you don’t have travel insurance cover, medical expenses abroad can be much higher, especially if you need emergency medical treatment.

What does diabetes travel insurance cover?

Specialist comprehensive travel insurance for people with diabetes should cover emergency medical treatment as well as other diabetes-related costs such as repatriation (getting back home due to a medical emergency). The policy should also cover other issues with your travel plans, such as cancellations when you need to cut your holiday short.

Travel insurance for diabetics policies may also cover other areas where standard policies wouldn’t, such as the replacement of insulin, in the event that it’s lost or stolen while traveling.

What should you pack for your trip if you have diabetes?

In addition to taking out travel insurance cover for diabetics, both type 1 and type 2 diabetes require a little more detailed planning, especially when it comes to packing. Some of the items you should take in your hand luggage include:

Long and short-acting insulin
An insulin pump or pen for insulin delivery
Insulin storage wallet
Spare needles and pen
Blood glucose meter
Spare test/disposal kit
Spare batteries
Medical alert identification
Testing strips to last the entire trip
Emergency number
Emergency kit
Insulin travel case
Diabetes prescriptions
Healthy snacks in case of delays
Letter from your doctor (may prove to be invaluable during security checks)

Should your holiday company know about your diabetes?

In addition to declaring your condition to your travel insurance provider, it is also crucial to notify your holiday, so they know what to do in case of emergencies while you are away. Wearing a medical identification bracelet while traveling may also prove to be invaluable in the event that you are unable to communicate or express yourself to the people around you.

Finding a comprehensive and affordable travel insurance plan specially designed to cover diabetes can be less straightforward if you don’t know what to look for and where to look.

How can you keep the cost of your travel insurance for diabetes down?

Travel insurance price quotes may vary between insurers, so it is recommended that you shop around as you compare what different providers are offering. Keep in mind that cheap doesn’t necessarily mean better value. Some budget insurance plans may not provide the coverage you need.

It is extremely important to consider other factors such as claim limits, excess amounts, as well as elements covered side-by-side.

Although diabetes should not be a reason not to travel, it makes it even more critical to have the right travel insurance policy when you do.

Diabetes financial help

Having diabetes can get rather costly that is why so many diabetics start looking for diabetes financial help for assistance so that they can help properly manage and maintain their diabetes and get all the help and medications that they need in order to do so.

Diabetes can get rather costly with all of the medications, blood glucose meters, testing supplies, diets, doctor visits and everything else that a diabetic may have to have. With this day and time so many more people are finding themselves getting laid off from their job, losing their insurance and so they are faced with the daunting tasks of deciding between their medications and food on their table that’s why more and more people are looking for financial help such as diabetes financial assistance in which they can get their diabetic stability and help keep their diabetes maintained and properly managed.

Diabetes financial help is everywhere, one of the best places to find financial assistance is through a Diabetic Health Insurance or by talking to your local healthcare provider who can point you in several different places or the one that best suits your needs. A lot of times your healthcare provider can look at your specific needs and which will help point you in the right direction.

There are many different companies out there that can help you and your diabetes needs from helping out financially with medications, diabetic supplies or by helping you get to and from doctor’s offices and appointments. Diabetes financial help can range from county to county and situation to situation so it is best to weigh all the pros and cons to see which one will work best for you. There is no harm in talking to someone and let them see what they can do for you. With so many firms out there catering to help out diabetics, why not see one today?