Do Health Insurance Plans Cover CBD Oil Usage?
CBD oil is becoming increasingly popular today, with more people realizing its medicinal benefits. In fact, there are some states have legalized the medical and recreational use of cannabis. Due to the growing body of evidence supporting its medical benefits, most people assume that health insurance companies will cover the cost of CBD oil usage. However, the coverage of CBD oil by health insurance companies remains a topic for debate.
What is CBD Oil?
Cannabidiol (CBD) and tetrahydrocannabinol (THC) are two of the 60 compounds found in the cannabis plant. These two make the largest components of marijuana, with THC being responsible for the mind-altering effects that come from using marijuana.
CBD, on the other hand, is the least non-psychoactive compound which does not affect the state of the mind. Unlike THC, CBD has minimal effect on CB1 and CB2 receptors. This is probably why it is recommended for medical use.
Several studies have shown that CBD oil is an effective treatment for conditions like inflammation, diabetes, anxiety, and pain.
Health Insurance and CBD Oil
As medical marijuana becomes increasingly popular due to its appealing health benefits, there is an ongoing debate on whether health insurance covers its usage. Well, if you are wondering whether your insurance plan will cover CBD oil, the answer is no.
Despite the fact that CBD has been proven to have medicinal benefits, health insurance companies are firm against providing coverage for various reasons.
A primary reason why it isn’t covered is because it has not been approved yet for use as a medicine by the Food and Drug Administration (FDA). According to the United States law, Medicare, Medicaid, and private insurance providers are required to cover FDA-approved medications only.
Medical marijuana is also not covered by health insurance because it is not federally legal. According to the Federal Controlled Substances Act, marijuana is considered a Schedule 1 controlled substance. This means that any compounds associated with it including cannot be legally prescribed. Anything that is not federally legal cannot be funded by insurance, Medicaid, or Medicare.
Before they decide to cover medical treatments, health insurance companies need to first verify that the drugs are clinically researched. While there may be scientific evidence showing the medicinal benefits of CBD oil, insurance companies still won’t embrace the idea due to the lack of firm clinical reports.
Therefore, even if your insurance plan is Medicare Advantage Plan, you are still not going to get coverage for your CBD oil usage. Fortunately, there are a few options available for users of CBD oil for medical reasons.
- One way to benefit from the product is by purchasing it from a dispensary and paying for the cost out of your pocket.
- The other option is to find another medication that is approved by the FDA and has similar benefits as CBD oil. As long as the medications are FDA-approved, the insurance company will cover their cost. If you are uncertain about the best alternative medications, be sure to consult with your doctor.