Cash for Diabetics Review

There’s been a recent trend of companies buying diabetic test strips from diabetics and then selling them for a profit. Cash for Diabetics is one such company. Here’s our review.

What is Cash for Diabetics?

Cash for Diabetics, as you guessed from the name, promises to give cash to individuals with diabetes.

The website will buy your unused diabetic testing strips for cash. It promises to give you money for your leftovers in a hassle-free way.

Cash for Diabetics is one of many companies that have popped up in the last couple years. These companies buy and sell diabetic test strips and sell the secondhand medical supplies for profit.

One news report from North Carolina claimed that the practice is legal, but that “the selling of secondhand medical supplies is considered a “gray market””.

With that in mind, let’s take a look at how Cash for Diabetics works.

How Does Cash for Diabetics Work?

Cash for Diabetics works in a three step process:

— Step 1) You request a kit from CashForDiabetics.com. You enter your basic contact information and the company sends you a postage-paid return kit to get started.

— Step 2) You mail your unused boxes of test strips through the free mailing kit

— Step 3) You get paid via a check delivered to your door.

When you initially sign up for the site, you’ll be prompted to choose how many boxes you would like (1 to 6, 7-12, or 13+).

The service is available in all 50 states as well as Puerto Rico. Currently, Cash for Diabetics is only available to American residents.

Here’s how the company explains its business practices:

“CashForDiabetics.com makes it fast and easy to get paid for your excess diabetic testing supplies. Simply request one of our free mailing kits by filling out the form above and we’ll send you a postage-paid container to use for mailing us your supplies. Once we receive your package we’ll inspect it for quality and then send you a check – it’s that easy!”

After receiving your strips, Cash for Diabetics will mail out checks within 2 business days of receiving your package. It claims that the check should arrive at your address within 2 to 8 business days.

How Much Money Can You Make?

Now let’s get to the fun part: how much money can you actually make by selling your unused medical supplies to some company on the internet?

The company lists all its prices for the most popular diabetic testing strip brands. Those prices range from $1 for the low-quality brands to as much as $40 for the premium brands. Here’s how pricing breaks down:

OneTouch Ultra Blue

— US Retail Boxes of 100 to 102 Strips: $36
— US Retail Boxes of 50 to 51 Strips: $16
— Boxes not for US Retail Sale: $8

FreeStyle Lite

— US Retail Boxes of 100 to 102 Strips: $38
— US Retail Boxes of 50 to 51 Strips: $16
— Boxes not for US Retail Sale: $8

Accu-Chek Arriva Plus

— US Retail Boxes of 100 to 102 Strips: $40
— US Retail Boxes of 50 to 51 Strips: $16
— Boxes not for US Retail Sale: $6

Accu-Check SmartView

— US Retail Boxes of 100 to 102 Strips: $30
— US Retail Boxes of 50 to 51 Strips: $14
— Boxes not for US Retail Sale: $6

Contour

— US Retail Boxes of 100 to 102 Strips: $20
— US Retail Boxes of 50 to 51 Strips: $4
— Boxes not for US Retail Sale: $2

FreeStyle

— US Retail Boxes of 100 to 102 Strips: $20
— US Retail Boxes of 50 to 51 Strips: $10
— Boxes not for US Retail Sale: $5

FreeStyle InsuLinx

— US Retail Boxes of 100 to 102 Strips: $20
— US Retail Boxes of 50 to 51 Strips: $10
— Boxes not for US Retail Sale: $5

OneTouch Verio

— US Retail Boxes of 100 to 102 Strips: $20
— US Retail Boxes of 50 to 51 Strips: $10
— Boxes not for US Retail Sale: $5

Contour Next

— US Retail Boxes of 100 to 102 Strips: $14
— US Retail Boxes of 50 to 51 Strips: $4
— Boxes not for US Retail Sale: $2

Accu-Check Compact Plus

— US Retail Boxes of 100 to 102 Strips: $20
— US Retail Boxes of 50 to 51 Strips: $10
— Boxes not for US Retail Sale: $5

TrueTest

— US Retail Boxes of 100 to 102 Strips: $4
— US Retail Boxes of 50 to 51 Strips: $1
— Boxes not for US Retail Sale: $0.50

What’s the Catch?

Cash for Diabetics will pay you the prices listed above for your boxes of diabetic test strips. There isn’t really a catch.

However, the most important thing to remember is that your supplies must be sealed, unused, unexpired, and undamaged.

The Terms and Conditions section for Cash for Diabetics describes unexpired as being “a full 30 days before expiration date”.

If your supplies don’t meet the above requirements, then Cash for Diabetics will actually seize your test strips and will not return them:

“If supplies do not meet all the aforementioned terms, and/or are ones that CashForDiabetics.com does not accept, I understand that I will be forfeiting my supplies and may not receive payment.”

The only other major condition is that you need to be at least 18 years old to sell your supplies.

Prescription labels are removed from boxes by Cash for Diabetics. The company recommends that you don’t remove the prescription labels yourself prior to sending it in, as it may damage your packaging.

How Does Cash for Diabetics Make Money?

Cash for Diabetics is one of many companies in the diabetic test strip game.

One report from 2012 explained how the businesses work:

— Diabetic test strips can cost hundreds of dollars per month and are an essential cost for those who live with diabetes

— Many people with diabetes don’t pay hundreds of dollars per month for their test strips because they have good insurance or they’re on Medicare/Medicaid, in which case a monthly supply of diabetic test strips can be as low as $10 or free

— A box of these test strips can retail for as much as $125 per box. Companies like Cash for Diabetics pay $20 to $40 per box, then sell boxes to a wholesaler for a profit. The wholesaler sells them online for “around $80”.

That report linked above also claimed that Medicare paid out more than $1 billion for test strips in 2009. The FDA, meanwhile, say it’s legal to buy and sell test strips because you don’t need a prescription to get them. However, when a doctor writes you a prescription for one, it’s usually covered by insurance or Medicare.

TheDailyBeast reports that many diabetics receive more test strips than they need every month:

“Jerry Koblin, who runs a family pharmacy in Nyack, N.Y., says many of his customers complain that their auto-fill programs send far too many boxes of test strips. Online resellers are aware that the strips expire, of course, and constantly run newspaper and Internet ads screaming, “WE BUY TEST STRIPS! $20-$30 FAST CASH!” For diabetics with an oversupply of strips, it is a tempting offer, even though it is against the law to resell supplies subsidized by Medicare or Medicaid.”

That report also claims that some diabetics in need of money will skip a day of testing and then sell their leftover medical supplies for a profit.

About Cash for Diabetics

Cash for Diabetics doesn’t list much information about itself online aside from an email address and phone number.

— Email: [email protected]
— Phone: 1-888-428-2050

The company doesn’t list its address or location online. A WHOIS lookup for the site revealed that it was registered on December 18, 2014 through FastDomain.com, although no further information is listed.

Should You Sell your Diabetic Test Strips?

Ultimately, Cash for Diabetics is an online version of the companies you see in your neighborhood buying and selling diabetic test strips. The company clearly lists its prices online and will send you a pre-paid box for shipping.

The only possible problem with Cash for Diabetics is its ability to deny cash for your test strips if they don’t meet the eligibility requirements: like if the packaging is slightly damaged or unsealed. If you send in test strips that don’t meet the requirements, then the company takes possession of your test strips without giving you payment – so you could end up with no cash and no test strips.

However, as long as you meet the requirements of providing sealed, unexpired, and packaged diabetic test strips, Cash for Diabetics seems to be a straightforward way to make money through the legal grey area of selling unused medical supplies online.