As a diabetic, you have probably found yourself in this classic conundrum: You need individual health insurance to cover your medical costs, but providers won’t insure you because of your condition. It is a common situation, and it can be extremely difficult for patients who need help paying for the day-to-day items necessary to manage the disease.
Luckily, it is possible to find low-cost insurance plans. Use these tips to help you get started on your search.
1. Chat with your doctor about affordable health insurance for diabetics
Before you begin looking for the right insurance plan, talk to your health care provider about your needs. Your health care provider can be an invaluable resource for information about local options and out-of-pocket costs.
2. Review your financial situation
Getting the best value for your money is crucial, so you will need to fully understand your budget restrictions. Estimate your monthly living expenses, and then factor in how much you can realistically pay for diabetes-related care. Though you may end up paying slightly more than your budget, this will give you a good baseline for knowing how much your bank account can handle.
3. Read about your state’s laws
Insurance options tend to vary widely by state, so take a little extra time to understand what’s available and what’s restricted in your area. You might just uncover an assistance program that provides exactly what you need.
4. Look at all of your options
Though traditional insurance plans can be unavailable to or prohibitively expensive for diabetics, there are a number of relatively affordable choices.
- High-Risk Pools: These state-based insurance plans are designed to cover people with pre-existing medical conditions. Though their rates can be higher than other options, high-risk pools are a good way for diabetics to secure comprehensive coverage. Check your local laws; this option is available in 35 states.
- Short-Term Coverage: The short-term health coverage option is ideal for patients who do not have an insulin-dependent form of diabetes and who only need coverage for a brief period of time. You will get coverage for up to 36 months.
- Limited Coverage: Also known as mini-medical insurance, a limited plan can provide low-cost coverage for daily necessities, prescription medications and regular visits to the doctor. You will also have access to basic hospitalization and surgical coverage, but these plans are not designed for major emergencies.
- Medicaid: If you are having trouble with your finances, applying for Medicaid might be the best way to fund an individual plan. Bear in mind, however, that this option is reserved for very low incomes.
5. Decide which plan offers the most affordable health insurance for diabetes.
Now that you understand your budget, state laws and available plans, review your options and choose the insurance that best suits your needs. Though it requires a little more work on your part, securing a low-cost diabetic plan is more than possible.
