Americans with Diabetes More Concerned About Their Financial Future Than Those Without
More Than Half Surveyed Report the Cost Associated with Managing the Condition has Negatively Impacted Their Finances and 62% Worry Their Health Will Force Them to Retire Before They’re Financially Ready1
With medical costs for people with diabetes two times higher than for people without diabetes, it’s not surprising that in a recent survey of 500 U.S. adults, ages 26-64, with diabetes and 500 U.S. adults, ages 26-64, without diabetes, more than half with diabetes report the cost associated with their condition has negatively impacted their finances.1 On top of that, many find themselves draining their savings and looking for other means of financial support – including routes that may set them back further. With financial management often top of mind at the beginning of the new year due to healthcare plan changes, Roche Diabetes Care Inc. is collaborating with Alexa von Tobel, Founder and CEO of LearnVest.com, a company redefining America’s approach to personal finance, to help give people living with diabetes the ability to focus on their health, not the costs.
In the survey nearly half of adults with diabetes indicated they have gone to extreme lengths to cover the cost of their diabetes management, most commonly: accruing credit card debt (22%), borrowing money from family or friends (21%) and taking money out of a savings or retirement account (19%).1 By providing tangible solutions, von Tobel is sharing advice and tips on budgeting, specifically for adults living with diabetes, in a new video on Accu-Chek.com. In addition to dedicating a credit or debit card to diabetes-related expenses and creating a structured budget, the Accu-Chek® Guide SimplePay program2 may help to lessen financial stress related to diabetes by guaranteeing a low price for test strips every day. With von Tobel’s vast financial knowledge, Roche Diabetes Care and von Tobel share a common goal in keeping it simple when it comes to diabetes management and finances.
“As the creator of a company dedicated to making financial planning simple, I’m no stranger to the notion that managing finances can add stress to your life and, on top of that, managing a chronic condition like diabetes can make budgeting even more complex,” said von Tobel. “Coming from a family of healthcare professionals, I often think of myself as a doctor of money so I am excited to partner with Roche Diabetes Care to help people living with diabetes develop new habits to better navigate the financial complexities of the condition.”
The survey also found that more than half of people with diabetes feel they are worse off financially than people who don’t have diabetes. This financial burden trickles into the way adults with diabetes think about saving for the future. More than two thirds of employed Americans with diabetes are concerned they’ll have to delay retirement specifically because of healthcare costs, and 62 percent of employed Americans living with diabetes are concerned health issues will force them to retire before they have the financial resources to do so.1
With the Accu-Chek® Guide SimplePay Savings program, people with diabetes can now have a savings solution that maintains a low cost for test strips to help them focus on what is best for their health, not what it costs. The Accu-Chek® Guide SimplePay program is designed to help make managing diabetes more affordable for the millions of Americans living with diabetes.
“It’s important for the 30 million Americans living with diabetes to feel they have affordable solutions available,” said Brad Moore, Head of Roche Diabetes Care, North America. “We are proud to partner with Alexa von Tobel and offer the Accu-Chek® Guide SimplePay program as part of our ongoing commitment to enable people with diabetes to live life as normally and actively as possible without cost as a barrier.”
To utilize the program and start saving, patients can hand the SimplePay card to their pharmacist along with the Accu-Chek® Guide meter and strip prescription. To find out more about the Accu-Chek® Guide SimplePay program and to download the free SimplePay card, visit www.Accu-Chek.com.
About Alexa von Tobel
Alexa von Tobel is a Certified Financial Planner and is the Founder and CEO of LearnVest.com as well as the New York Times-Bestselling Author of Financially Fearless. She launched LearnVest, a financial planning company redefining the American approach to personal finance, in 2008 and raised nearly $75 million in financing for the company before it was acquired by Northwestern Mutual in May 2015. Von Tobel is a member of the 2016 Class of Henry Crown Fellows and was an inaugural member of President Obama’s Ambassadors for Global Entrepreneurship. She has been included in the Forbes 30 Under 30 list, selected as one of Fortune's Most Powerful Women and included in their 40 Under 40 list, named one of the World Economic Forum's Young Global Leaders, listed on Inc. Magazine's 30 Under 30, noted as one of "18 Women Changing the World" by Marie Claire, and given a "Genius Award" from Elle.
The Roche Diabetes Care Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 500 U.S. adults (26-64 years old) currently being treated for diabetes and 500 U.S. adults (26-64 years old) not being treated for diabetes, between November 21st and December 1st, 2017, using an email invitation and an online survey.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.4 percentage points in each of the two audiences from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About Accu-Chek® Guide SimplePay Program
With the SimplePay program, Roche Diabetes Care offers people with diabetes a solution that addresses today’s increasing insurance costs and high deductibles by allowing consumers to pay a consistent and easy-to-understand everyday low price for test strips.2 To start saving today, patients can download the free SimplePay card at SimplePaySaves.com and hand the card to their pharmacist along with a prescription for the Accu-Chek® Guide meter and test strips. Free SimplePay savings cards are also available in select physician offices and pharmacies.
About Roche Diabetes Care
Roche Diabetes Care has been a pioneer in providing innovation in diabetes technology and services for more than 40 years, helping people with diabetes to live their lives as active and unrestricted as possible. Being a global leader in diabetes management, more than 5,000 employees in over 150 markets worldwide work every day to support people with diabetes and those at risk, caregivers and healthcare providers to optimally manage the condition – and more importantly achieve more time in the target range so they can experience true relief. Under the brand Accu-Chek and in collaboration with partners, Roche Diabetes Care creates value by providing integrated diabetes management solutions to monitor glucose levels, deliver insulin and track relevant data points for successful glucose management. By establishing a leading open digital platform, connecting devices and digital solutions, Roche Diabetes Care will enable personalised diabetes care and thus improve therapy outcomes.
For more information please visit www.accu-chek.com.
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For more information please contact:
Head of Communications, Diabetes Care North America