CBD oil that is derived from the hemp plant contains a very low level of THC, or the active ingredient in marijuana that gives users a “high.”

Because it is not debilitating to use and can be effective in reducing pain and helping those suffering from anxiety, epilepsy, insomnia and more, as many as 14% of U.S. adults are currently using some form of CBD.1

But, these sought-after products, including commonly used oils, can be very costly. The question many Americans and Canadians have: Does insurance cover CBD oil?

The Benefits of CBD

Many claim that CBD oil is a cure-all for almost any ailment. While human studies are still being conducted on the topic, there are several potential benefits of using CBD, derived from animal studies conducted by reliable sources.

  • Pain Relief: A study published by the National Institutes of Health suggests that CBD oil may prevent pain and nerve damage for people with osteoarthritis, as it did for rats in this study.2
  • Reducing Anxiety and Depression Symptoms: CBD can have a calming, mood-boosting effect, used to treat certain anxiety disorders, PTSD and even depression. According to multiple studies, it can significantly decrease symptoms, or act as an anti-depressant in some cases.3
  • Treating Epilepsy and Seizures: There is strong evidence that CBD is effective for controlling seizures caused by epilepsy and Dravet syndrome. Epidiolex is the first drug derived from CBD to be approved by the Food and Drug Administration, for patients two years of age and older.

Does Insurance Cover CBD Oil?

The 2018 passage of the U.S. Farm Bill, which legalized the use of CBD products (derived from hemp) across the country, has led to widespread use of CBD oil. While CBD oil is often used to reduce medical ailments, there is currently no CBD oil insurance policy, or health insurance companies in the U.S. that will cover the use of CBD oil or medicinal marijuana, even when prescribed by a doctor.

While there is no CBD oil insurance policy in Canada either, under Revenue Canada’s Medical Expense Tax Credit, residents may be able to claim CBD oil use on their tax return. It may be covered by private insurers in limited cases as well. One Canadian insurer for example, is the first to cover CBD use for individuals suffering from a few specific conditions, and when employed as a last resort.

For more information on the question "Does insurance cover CBD oil?" and finding insurance that works for your needs, contact a HUB broker today.

1 https://news.gallup.com/poll/263147/americans-say-cbd-products.aspx

2 https://www.ncbi.nlm.nih.gov/pubmed/28885454

3 https://health.usnews.com/health-news/blogs/eat-run/articles/can-cbd-oil-help-with-anxiety