Diabetes Impacts Financial Health Over and Above Medical Expenses
According to some estimates, a person with diabetes spends over $4,000 more a year in medical expenses than those without the condition. However, the financial hits do not end there. A new study quantifies the non-medical costs of the disease, which includes lower lifetime earnings and fewer job prospects than their healthy peers.
In the journal Health Affairs, Dr. Michael Richards, a physician and doctoral candidate in the department of health policy and administration at Yale University, documents the findings of the National Longitudinal Study of Adolescent Health which tracked 15,000 people over a period of 14 years, from middle school into their early 30’s. Those with diabetes had lower rates of finishing high school (6% dropout rate) and were less likely to attend college than those young adults who were not diabetic. By the age of 30, a diabetic person was 10% less likely to have a job, in part because of the reduced level of education.
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