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Money matters for people with diabetes

Money matters for people with diabetes. July 2017. The numbers. 313,959 Victorians have diabetes 273,590 have type 2 diabetes 28,851 have type 1 diabetes 9,560 have gestational diabetes 1,958 have other endocrine conditions

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Money matters for people with diabetes

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  1. Money matters for people with diabetes July 2017

  2. The numbers 313,959 Victorians have diabetes • 273,590 have type 2 diabetes • 28,851 have type 1 diabetes • 9,560 have gestational diabetes • 1,958 have other endocrine conditions • All are registered with the National Diabetes Services Scheme as at 31 March 2017

  3. The numbers Older Victorian people with diabetes: • 60 – 90 years old with type 2 diabetes=194,105 • 60-90 years old with type 1 diabetes=9,582 • Source: NDSS March 31 , 2017

  4. People with diabetes & family members say internationally • 63% negative impact on physical health • 63% worried about hypo’s • 50% have a good quality of live • 45% negative impact on finances • 45% negative impact on emotional well- being • 45% negative impact on work /studies

  5. Diabetes is a costly health condition • Out of pocket expenses range from $5,000 to $12,000 for an individual depending on the type of diabetes ,duration of the health condition, age and post code. • Source: Australian Diabetes Study (2015)

  6. Older people with diabetes tell us about: • Not expecting more co payments-consultations for all health and allied health services • Not being able to afford all medicines for diabetes and any other health conditions • Partner handled the money–no recent budget experience • Limited knowledge of financial counselling – let things slip • Family member controlling finances and limiting access for person with diabetes-rare but distressing • Family members stealing from older person-bank accounts, use of car, selling furniture and precious items • Contracts entering nursing homes and support accommodation taking all funds

  7. Those in financial distress : • Homeless • International students • Mental health conditions • Multiple health conditions • Those starting out in the first job, away from home • Older people whose relatives are stealing • Any person with diabetes

  8. Health care professionals need to mention money: When talking about : • Consultation costs,fees,co-payments • Treatment options-many require private health insurance for insulin and blood glucose monitoring devices • Medicines • Getting to medical and other health appointments- parking & transport • Life style changes

  9. Some resources remain: • Australian Securities & Investment Commission booklets • Money help-financial counsellors & information sheets • Work WelfareWills • Concession guides DHS • Legal and social security rights Centres • No interest loans • Community service and church welfare organisations • Centrelink social workers- limited with more online services

  10. Support: where else can you go? • Isolation is the enemy • Peers can help you: • you’re not the only one • help you problem solve • a united voice for change • Diabetes Victoria peer support groups • OzDOC • https://twitter.com/OzDiabetesOC • Weekly tweet chats • Online forums • e.g. Type 1 Diabetes Network, Tudiabetes, and more

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