Finding affordable health insurance for diabetics can be a particularly daunting task. Because the disease is categorized as a pre-existing condition, insurance carriers often charge diabetics with much higher rates, or even worse, refuse them coverage completely. This is a problematic situation for patients who need assistance paying for supplies such as insulin, test strips and meters.
Thankfully, there are inexpensive options available to high-risk customers. If you arm yourself with knowledge before starting your search, you’ll be on the road to tracking down cheap health insurance for diabetics in no time.
Getting Started
Knowing precisely what you’ll need out of an insurance plan is the first step to finding the right one for yourself. Here are a few ideas to help you get organized.
- Design a monthly budget: In order to know what sort of rate you can afford, you will need to look at your financial situation. Calculate both your living and diabetes-related expenses, and then decide how much per month you’ll be able to pay for the insurance premiums and out-of-pocket costs.
- Study your state’s laws: Each state varies widely when it comes to health-insurance laws. Make sure you understand which programs or restrictions your state offers before you start your search.
- Talk to your doctor: Your health care provider is often an invaluable resource for insurance-related issues. Your health care provider can help you figure out which insurance types will be available to you and how much you can realistically expect to spend on a plan in your state.
Understanding Your Options
Though the disease can often seem prohibitive, diabetics have a number of individual insurance choices.
- Short-Term Insurance: If you only need insurance for a specified period of time and don’t need coverage for insulin costs, a short-term insurance plan might be the way to go. This option can provide coverage for up to 36 months, but you will need to check your state laws to be sure it is available.
- Limited Benefit Insurance: Often referred to as a mini-medical plan, this low-cost option is ideal for diabetics who need coverage for day-to-day disease management. You will have access to regular doctor’s visits, prescription drugs, and limited hospital and surgical needs.
- High-Risk Pools: Though they tend to be more expensive than traditional choices, high-risk pools can be helpful for patients who have had trouble securing insurance. Available in 35 states, these private plans provide coverage for individuals with pre-existing conditions. The rates will vary based on your state, age and condition.
What’s more, diabetics can get financial assistance by applying for Medicaid. This is frequently the option of last resort, so you will need to have a very limited income in order to qualify.
Choosing the Best Health Insurance for Diabetics
Once you have reviewed your options, weigh each choice against your budget and decide which insurance plan will provide you the best quality for the cost. Though it may seem difficult to find cheap health insurance for diabetics, the options are out there if you just know where to look.
