A State Journal reader who seen indicators popping up at a number of Frankfort intersections asking residents to promote their diabetic check strips inquired as as to if it was a rip-off.
The check strips, that are used a number of instances a day by Kind 1 and Kind 2 diabetics to measure blood sugar, are single-use and include a laminate of plastic and chemical compounds. With greater than 30 million Individuals identified as diabetic and testing strips retailing at roughly $1 per strip, shopping for and promoting the merchandise has turn out to be a profitable trade.
Very similar to prescription drugs, producers set the checklist costs for diabetic testing provides excessive after which supply substantial reductions to these with good medical health insurance. This considerably lowers the fee for shoppers, who find yourself paying little or no or nothing for the check strips.
Nonetheless, those that do not need medical health insurance must pay for the costly diabetic provides out-of-pocket.
That is the place the intermediary — these promoting to pay money for check strips — is available in. She or he purchases the additional provides from the diabetes sufferers with good medical health insurance who need to make a bit money, provides a mark-up and sells them to the uninsured or underinsured diabetic at a cheaper price than they might pay for the over-the-counter provides.
In line with a 2019 New York Times article, it’s authorized to promote off-the-shelf diabetic check strips and the “grey market” has existed for many years.
Nonetheless, provides supplied via Medicare and Medicaid can’t be purchased and bought.
“That’s as a result of these strips have been paid for by the federal authorities and you can not revenue off of their packages and providers,” www.dollarforstrips.com, a website that purchases and resells unused check strips, states.
Testing provides given via authorities packages include a pink line to determine them as such. The location mentioned it additionally bans used and expired check strips and packing containers which have been opened.