Does Insurance Cover Medicinal Marijuana and THC?
In the United States, marijuana is getting more and more support and popularity as a way to ease the symptoms of long-term and terminal illnesses. As of July 2022, 39 states have approved marijuana’s medicinal usage, while 19 states have allowed its recreational use. Some people found that marijuana was cheaper and more appealing to treat chronic pain. Although studies demonstrating the usefulness of marijuana are limited, and health concerns are potential, healthcare practitioners are not permitted to prescribe it, and insurance does not cover it.
Let’s discuss some more in this letter about medical marijuana insurance and determine if your insurance will pay for medical marijuana.
The insurance status of Medical Marijuana
Federal law interdict the use and possession of cannabis. More than 39 states recognize the medicinal use of cannabis, but the federal government views it as an illegal substance with no medical value. Marijuana is a Schedule I controlled substance, according to the Controlled Substances Act. This means substances on Schedule 1 are ones the federal government says have no known medical use and a high risk of abuse. As a result, federal law prevents medical professionals from recommending marijuana.
Most private health insurance policies do not cover visits and services connected to medicinal marijuana. A national insurance provider must choose between adhering to federal or non-standardized state regulations. Respecting state laws means paying for a substance that is against the law and has “no currently recognized medical purpose.” Due to this challenging circumstance, almost all insurance companies refuse to cover medicinal marijuana.
Insurability of THC-containing products:
Since cannabis is still on Schedule I at the federal level, products with THC are also illegal. However, when we look at synthetic cannabis and FDA-approved medications, the FDA has approved three THC-based drugs covered by most insurance plans. Marinol, Cesamet, and Syndros are three THC-licensed medications used to treat more severe symptoms that THC is said to help with, like nausea and vomiting caused by cancer treatment.
The reason behind the legality of these three medications containing THC is:
Because of marijuana’s legal status, the THC used to make these medicines were made in a lab. The THC in these drugs is not natural, and all three are based on a synthetic version of THC that is not derived from cannabis. The FDA was willing to approve them since they were deemed lawful.
Last thought:
Modification is possible.
Some states desire insurance coverage for medicinal marijuana. The New York state senate has passed a measure mandating that public health insurers cover medicinal marijuana and that private insurers can do the same.
Federally, the Safe Banking and Claim Acts would help make state marijuana laws more acceptable. They would allow cannabis businesses to utilize banks and insurance firms to cover medicinal cannabis. Even though neither has yet passed, they are receiving attention, which is a positive indication.
Does insurance cover medicinal marijuana and THC?
In the United States, marijuana is getting more and more support and popularity as a way to ease the symptoms of long-term and terminal illnesses. As of July 2022, 39 states have approved marijuana’s medicinal usage, while 19 states have allowed its recreational use. Some people found that marijuana was cheaper and more appealing to treat chronic pain.
Let’s discuss some more in this letter about medical marijuana insurance and determine if your insurance will pay for medical marijuana.
Since cannabis is still on Schedule I at the federal level, products with THC are also illegal. However, when we look at synthetic cannabis and FDA-approved medications, the FDA has approved three THC-based drugs covered by most insurance plans.
Marinol, Cesamet, and Syndros are three THC-licensed medications used to treat more severe symptoms that THC is said to help with, like nausea and vomiting caused by cancer treatment.
Reason behind the legality of these three medications
The THC in these drugs is not natural, and all three are based on a synthetic version of THC that is not derived from cannabis. The FDA was willing to approve them since they were deemed lawful.
Last Thought
Federally, the Safe Banking and Claim Acts would help make state marijuana laws more acceptable. They would allow cannabis businesses to utilize banks and insurance firms to cover medicinal cannabis. Even though neither has yet passed, they are receiving attention, which is a positive indication.
