Type 2 diabetes is the most common chronic disease for the elderly people. This disease is difficult to be cured and causes continued medical expenses. The early and personalized risk assessment of type 2 diabetes is necessary. So far, various type 2 diabetes risk prediction methods have been proposed. However, these methods have three major issues: 1) not fully considering the importance of personal information and rating information of healthcare system, 2) not adopting the long-term temporal information, and 3) not comprehensively capturing the correlation between the diabetes risk factor categories. To address these issues, the personalized risk assessment framework for elderly people with type 2 diabetes is needed. However, it is very challenging due to two reasons, namely imbalanced label distribution and high-dimensional features. In this paper, we propose diabetes mellitus network framework (DMNet) for type 2 diabetes risk assessment of elderly people. Specifically, we propose tandem long short-term memory to extract the long-term temporal information of different diabetes risk categories. In addition, the tandem mechanism is used to capture the correlation between the diabetes risk factor categories. To balance the label distribution, we adopt the method of synthetic minority over-sampling technique with Tomek links. To form the better feature representations, we utilize entity embedding to solve the problem of high-dimensional features. To evaluate the performance of our proposed method, we conduct the experiments on a real-world dataset called Research on Early Life and Aging Trends and Effects. The experiment results show that DMNet outperforms the baseline methods in terms of six evaluation metrics (i.e., accuracy of 0.94, balanced accuracy of 0.94, precision of 0.95, F1-score of 0.95, recall of 0.95 and AUC of 0.94).