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Turning Adversity into Opportunity! A Mantra I’d Like to Live By, but I Mostly Just Complain Instead Thumbnail

Turning Adversity into Opportunity! A Mantra I’d Like to Live By, but I Mostly Just Complain Instead

Over the weekend, I got to be a part of something incredibly special. Five years ago, my friends’ son was diagnosed with Type 1 diabetes. For anyone that has ever dealt with diabetes, or has a loved one with diabetes, you know the emotional, physical, and financial strain it can have. But this is no ordinary family. They took their distressing and upsetting news and turned it into hope. Every year since their son was diagnosed, they host the Diabetes Dash 5k Run/Walk. In the first 4 years they managed to raise over $80,000 for JDRF – the world’s largest nonprofit organization that funds and advocates for Type 1 diabetes research and treatments. On Sunday, they held their 5th annual race. It was the second year I was able to sponsor the event and the first year I was able to participate. Seeing what they have built was inspiring and I was in awe of the community of people that gathered around them to support their cause.

Unfortunately, these are not my only friends with a child that has Type 1 diabetes. They are also not the only family I know that has had medical scares out of nowhere. It seems like everywhere I turn, someone is diagnosed with a different autoimmune disease or cancer. And it’s not just people my age or older. Many times, it’s younger friends or their children. Beyond the physical and emotional toll it takes on individuals and their families, managing Type 1 diabetes and other chronic illnesses also comes with a significant financial burden. In this blog, we will explore the various costs associated with health problems, from medical expenses to lifestyle adjustments, and provide insights into coping strategies to navigate the financial challenges.

1.  Question:  Are you aware of the monthly or annual expenses related to the medical concern?

For Type 1 diabetes, the primary component of the cost revolves around medical expenses. This includes the cost of insulin, blood glucose testing supplies, insulin pumps or pens, syringes, and other medications to manage blood sugar levels. The expenses can vary based on the type of treatment, frequency of glucose monitoring, and individual needs. This is true for any chronic illness or major medical problem.

2.  Question:  Have you thoroughly reviewed your health insurance policy to understand your coverage?

Having comprehensive health insurance is crucial for chronic illness. While insurance can help mitigate some of the costs, it's essential to understand the coverage limits, copayments, and deductibles associated with treatments and procedures. Some insurance plans may require prior authorizations for specific medications or devices, which can also impact out-of-pocket expenses.

3.  Question:  Have you factored in the costs of lifestyle modifications in your health management plan?

Illnesses like diabetes often necessitate significant lifestyle adjustments, such as dietary changes, regular exercise, and monitoring blood sugar levels. While these changes can improve health outcomes, they may also incur additional expenses. Healthier food options, exercise programs, and things like physical therapy or education classes can contribute to the overall costs of managing the condition.

4.  Question:  Have you considered setting up an emergency fund to handle any unexpected medical expenses?

Chronic illness management is an ongoing process that requires constant vigilance. Despite careful management, there can be unforeseen emergencies or complications that may lead to hospitalizations or medical interventions. The financial impact of such situations can be substantial.

5.  Question:  Have you considered including mental health support as part of your health management plan, and do you know the associated costs?

The emotional toll of living with chronic illness can be overwhelming at times, leading to stress, anxiety, or depression. Seeking mental health support through therapy or counseling may be beneficial, but it also adds to the overall costs.

6.  Question:  Have you explored the potential benefits and costs of incorporating advanced technologies into your treatment plan?

For illnesses like diabetes, technological advancements such as continuous glucose monitors (CGMs) and insulin pumps, can significantly improve the quality of life for individuals with Type 1 diabetes. However, these devices may come with higher upfront costs and ongoing expenses for supplies and maintenance.

Living with a chronic illness requires a comprehensive approach that addresses both the medical and financial aspects of the condition. Understanding the costs associated with it is vital for developing a realistic financial plan and ensuring access to necessary treatments and supplies. By being proactive in exploring health insurance options, budgeting for medical expenses and lifestyle modifications, and considering potential emergencies, individuals can better cope with the financial challenges of their chronic condition. Additionally, seeking community support, staying informed about available resources, and working closely with healthcare providers can help navigate the financial burden and improve overall well-being while managing the illness effectively.

Although the Diabetes Dash 5k is over for this year, if you are interested in helping my friends’ amazing cause I would please encourage you to donate to the Diabetes Dash here:  Diabetes Dash 5k Run/Walk. And as always, if there is anything I can help you with and you’d like to schedule a meeting, please email me at jennifer.jenkins@bluestonewp.com.