With CBD Oil becoming ever more popular to treat a variety of ailments many are wondering “Is CBD Oil covered by insurance?” There are two factors keeping it from that, and we’ll dive into both.
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CBD has been gaining popularity with average consumers and those who suffer from a wide range of health conditions for the last 10 years or so. Only recently have we noticed a big increase in the number of doctors recommending CBD use.
This has resulted in more and more doctor referrals for CBD Oil and a growing number of people wondering if health insurance covers CBD Oil in any way.
As of right now, CBD Oil is not covered by health insurance plans in the United States. Hemp, CBD and marijuana are all still classified as Schedule 1 controlled substances, they are also still not approved for use by the Food and Drug Administration (FDA).
Right now, those wishing to use CBD Oil to treat a medical condition will need to pay the cost out of pocket or seek a similar medication that does have FDA approval.
Reasons CBD Oil isn’t covered by Insurance
There are basically two main reasons why insurance companies are able to get away without covering CBD Oil and medical marijuana products. Until these things change, health insurance providers will continue to skirt around the costs.
The first problem is that cannabis is still listed Federally as a Schedule 1 drug. These are substances that either have a high risk of abuse, does not have an accepted medical use, or is not viewed as safely used outside of medical supervision.
This means doctors can’t write prescriptions for these drugs and they aren’t available for clinical use. Getting CBD and hemp off this list is the first barrier that must be overcome to getting insurance to cover CBD products.
The other problem is the FDA only approves of one drug containing CBD. This drug, used to treat children’s epilepsy, is a breakthrough and may create an opening for other similar approvals.
We fully expect the FDA to slowly but surely start approving more treatment options that involve CBD Oils, when this happens the insurance companies will have to start to reconsider their position on this topic.
With the progress the CBD industry and legislation has made in the last five years, we have no doubt that insurance companies will cover some CBD Oils in the future, but as of 2020 we are not there yet.