Diabetes costs in Canada
The financial burden for people living with diabetes can be very high. It is estimated that, in Canada, people with diabetes have medical expenses that are up to three times higher than people who don’t have the disease. These costs include medications, testing strips, and equipment such as needles, lancets and pump supplies.
This article provides ideas on how to manage costs, introduces you to the disability tax credit and provides links to other helpful articles about financial management.
The disability tax credit for people with diabetes
To help offset some of the costs of diabetes, people with the condition can apply for the federal government’s disability tax credit. While many people with diabetes might not describe their condition as a disability, those who spend a great deal of time – and have great difficulty – with their day-to-day diabetes management, may be able to apply for a disability tax credit from the Canada Revenue Agency.
According to the Agency’s website, “The disability tax credit is a non-refundable tax credit used to reduce income tax payable … A person with a severe and prolonged impairment in physical or mental functions may claim the disability amount once they are eligible for the credit.”
To apply for the disability tax credit, you’ll need to consult with your healthcare team; they can complete the necessary paperwork required to submit an application to the Canada Revenue Agency. Based on the information submitted by your physician, the Agency will assess your application to determine if you are eligible for the disability tax credit.