Does Insurance Cover CBD Oil?

Why Won’t Health Insurance Agencies Cover CBD?

Even though there’s more evidence backing the medicinal properties of CBD oil, and even if doctors are prescribing it to their patients, health insurance still does not cover the cost. This makes one wonder why most other pharmaceutical drugs — with higher price tags and more severe side effects —  are covered, and CBD oil isn’t.

CBD is Not FDA-Approved

Before getting released into the market, any new drug must get the FDA’s approval so that the doctors can legally prescribe it to their patients.

CBD is still considered a New Dietary Ingredient (NDI). Extensive lab tests and research must be submitted and reviewed before the FDA approves a new drug.

Insurance companies won’t insure anything that isn’t FDA-approved. The process required for approval is lengthy and expensive.

CBD is a Cannabis Product

Cannabis (hemp and marijuana) is still met with uncertainty. Hemp is federally legal, but only recently. The Farm Bill passed into law in 2018, making hemp and its derivatives legal — as long as it contains less than 0.3% THC.

Marijuana is still a Schedule 1 drug, federally and in some states. Because both hemp and marijuana teeter on legality, many companies shy away from such products. It’s not just insurance companies — many shipping companies, even local ones in states where marijuana is legal, won’t deliver it.   

Learn More About CBD Laws All Over The World. 

What Alternative Options Are Available For Patients?

Currently, patients interested in purchasing CBD oil for its medicinal benefits must meet these needs from their own pockets. No financial assistance is available for those who wish to use CBD products, even with a doctor’s prescription.

Because CBD is unregulated, everyone needs to be extra cautious when purchasing CBD oil. High-quality CBD products can go beyond $100 per bottle. Certain CBD companies are a scam and have been caught with little to zero CBD compounds in their products. 

To avoid buying fake CBD products, people must purchase them from reputable sources. It’s essential to find out the company’s authenticity and conduct careful research before investing in CBD. 

Related: How to Talk With Your Doctor About CBD.

Benefits of Using CBD Oil  

There’s been a lot of research on CBD over the past few decades. A lot of this research has been promising, and there are a lot of acknowledged health benefits of CBD.

The only health conditions insurance will cover CBD as a treatment for are those approved by the FDA for drugs like Epidoliex or Sativex to treat. This primarily involves epilepsy and low appetite as a result of chemotherapy.

Here are a few of the proven benefits research has uncovered for CBD:

1. May relieve anxiety & depression
2. Alleviates chronic pain & inflammation
3. Supports deeper, more restorative sleep
4. Reduces acne formation
5. Reduces the severity & frequency of epileptic seizures

Summary: CBD & Insurance Companies

The government doesn’t ban CBD products but insurance companies won’t reimburse the costs incurred for using them for medical purposes.

So even if physicians acknowledge the health benefits of CBD oil and prescribe it to their patients, insurance policies are not willing to cover the cost needed to procure it.

CBD oil is reasonably priced compared to many other pharmaceutical drugs, even after insurance coverage.