Diabetes Awareness Month
Diabetes Awareness Month, observed every November, is a time to raise awareness about diabetes and the millions of people affected by this chronic health condition worldwide. During Diabetes Awareness Month people come together to support others, educate themselves, share resources and take steps to prevent diabetes health problems.
5 Facts about Diabetes
In 2022, the CDC estimated that over 130 million Americans have diabetes or prediabetes (1).
The global cost of diabetes is expected to reach over one trillion dollars in 2030 (2).
Type 1 diabetes affects 5-10% of diabetes cases. Type 2 diabetes is a more common form of diabetes, and affects 90-95% of diabetes cases (3).
Diabetes is the eighth leading cause of death for adults in the United States (4).
In the past 20 years, the cases of adults with diabetes have doubled in the United States due to the increased population of overweight and obese Americans (5).
The Inflation Reduction Act (IRA) improves benefits for retirees, capping the out-of-pocket cost of all prescription drugs at $2,000 per year for seniors who have Medicare Part D . The IRA caps insulin costs at $35 per month for seniors who have Medicare. One dollar in every three spent on prescription drugs in the U.S. is spent on someone with diabetes (6).
The combination of the IRA and the current economic environment creates a unique window of opportunity to reexamine your retiree medical strategy. With Via Benefits, plan sponsors can offer their retirees more plan choices that meet their individual and unique needs at more affordable and sustainable costs. Additionally, employers see their costs go down, mitigate the risk and liability, and significantly reduce their administrative burden.
Sources:
“CDC 2022 National Diabetes Statistics Report.” Centers for Disease Control and Prevention, 26 Jan. 2022, nationaldppcsc.cdc.gov/s/article/CDC-2022-National-Diabetes-Statistics-Report.
“Estimated global healthcare expenditure to treat diabetes in 2007, 2021, 2030, and 2045” Statista, Nov. 2021, https://www.statista.com/statistics/241820/estimated-global-healthcare-expenditures-to-treat-diabetes/
Khambatta, Cyrus. “Type 1 vs Type 2 Diabetes: How Are They Different?”, Mastering Diabetes, 5 Oct. 2020, www.masteringdiabetes.org/type1-vs-type2-diabetes/
“Diabetes”, National Institue of Diabetes and Digestive and Kidney Diseases, https://www.niddk.nih.gov/about-niddk/research-areas/diabetes
“Diabetes Fast Facts”, Centers for Disease Control and Prevention, 4 Apr. 2023, https://www.cdc.gov/diabetes/basics/quick-facts.html
“What you Need to Know: Important Information about the Inflation Reduction Act and Diabetes”, American Diabetes Association, https://www2.diabetes.org/sites/default/files/2022-08/What-People-with-Diabetes-Need-to-Know-about-the-Inflation-Reduction-Act.pdf