It’s no secret that being in debt can cause you to worry and worry leads to stress, which can lead to illness. But now a study undertaken by the Urban Institute found a significant increase in the number of Americans over age 55 who are in debt.
Becoming ill because of debt
Even more troubling, the study found that those who are burdened by debt are more likely to be diagnosed with cancer, hypertension, heart disease, and diabetes. Also, these same people were found to have difficulty in handling everyday activities. Having unsecured debt such as credit card debt, student loans and medical bills can be more detrimental than home loans.
Unable to afford insulin
You might say, well, I try my best to avoid credit card debt, but in some cases, it may be unavoidable. A survey commissioned by CharityRx showed that 4 in 5 adults who have diabetes or care for someone with the disease have credit card debt averaging $9,000 for insulin alone. Seventy-nine percent of the people surveyed said they struggle financially because of insulin cost and 62% said they either skip or adjust their insulin doses to stretch the supply and save money.
Why is insulin so expensive in the US?
Recently, the president of the US Joe Biden came on national television to talk about the high cost of insulin, a drug that is critical to managing diabetes in millions of people. Since he spoke, I don’t know if anything has been done, so I decided to research why insulin is so expensive in the US, supposedly the richest country in the world.
What is insulin made of
In an article posted by NPR, a doctor discovered that the older version of insulin that had gone through a lot of changes and that was successfully treating a lot of diabetics, suddenly disappeared around the 1970s. The newer version contains the human gene for insulin, whereas the older version was made from insulin taken from the pancreas of cattle.
So, the older version disappeared and the newer version now costs the consumer around $400 a month. However, you can still get the older version for $35 in Canada. If you are among the millions who depend on insulin you may be wondering if the drug will ever be sold at a price that is affordable. According to NPR, some experts believe that as the older insulin patents expire and the FDA allows similar versions onto the market, costs will decrease.
Whether this happens or not, you owe it to yourself to pay attention to your diet, your physical activity, and your stress level. And as always, before following any advice in this blog, please do your own research and consult your physician.