At The Alexander Group, we are all well aware of the lingering concern of insurance coverage for CBD oil products. In fact, some of us here in the office use CBD oil regularly, and wish that we could report that insurance covers CBD oil costs. However, the truth is that most CBD oil products are not covered by most insurance companies.
There are several reasons why your favorite CBD products are not covered by insurance. For one, CBD is derived from hemp (also known as marijuana) which is a contentious debate around the country as to whether the cannabis plant should be removed from a Schedule I drug in the United States. Partly because of this, the FDA has only approved one drug (at the time of this writing) and medical insurance regularly follows the FDA.
Insurance Overage for Epidolex
Since the FDA has approved Epidiolex, you may be covered by health insurance depending on your plan. This is exciting news for users of Epidiolex as you can receive insurance coverage. It is also exciting as it might foreshadow the FDA’s stance to approve additional CBD products in the future.
We are all watching the CBD industry as it promises to become a billion dollar industry this decade, and it proving to be a useful alternative health option. Specifically, the CBD water soluble benefits seem promising as well as topical cream enhancements. We will continue to watch the market, and report on new discoveries as it affects this growing concern in the local market.