Health Insurance & CBD Oil: Here's What You Should Know
CBD oil can help you with your allergies, reduce that chronic back pain and even improve your sex life. Shouldn’t health insurance companies cover CBD oil?

One of the longestrunning jokes on the internet, particularly on Reddit, is how Americans do not have health insurance. To clarify, it’s a funny joke and it highlights one of the biggest issues of the 21st century; too many people do not have health insurance. According to an article by PBS, 44 million Americans do not have health insurance and a further 38 million are under-insured. Above all, if you do not have health insurance please check out the options that are available to you.

With that out of the way, let’s talk about CBD oil & health insurance.

There are so many CBD products in the market that it’s sometimes hard to choose the right one for you. One of the most popular CBD products is CBD oil which has gained a large following because of its supposed health benefits. It can help you with your allergies, reduce that chronic back pain and even improve your sex life. Certainly, with all these benefits, shouldn’t health insurance companies be falling over themselves to cover CBD oil?

We thought so too until we started doing research for this article. None of the health insurance companies in the US covers CBD oil. From the outside looking in, this decision seems counter-intuitive, especially considering the popularity of CBD oil. So we decided to dig a little deeper and find out why health insurance companies do not cover CBD oil.

Health Insurance & CBD Oil: Here's What You Should Know
CBD oil @holstonhemp

How Insurance Companies Choose the Medicines They Cover

Understanding the inner workings of the health insurance industry is a daunting task but we did it for all of you. When the health insurance companies are deciding which drugs they cover the most important factor they consider is how effective it is. If a particular medication is proven to be particularly effective then there’s a higher probability that more insurance companies will cover it.

Medicines usually undergo rigorous testing before they are approved and in the US the Food and Drug Administration (FDA) is responsible for this. At the moment the FDA is working on determining the exact health benefits of CBD. The FDA’s process relies more on scientific evidence than anecdotal evidence and such intensive research usually takes time.

FDA approval process

According to the FDA, it usually takes more than 10 years, 100,000 pages and $350 million before they approve any new drug. To put this into context, Harry Potter and the Order of the Phoenix, the longest book in the series, is 766 pages long. The movie version only cost $150 million to make. That’s a scary approval process if I’ve ever heard of one.

The only CBD oil product that has been approved by the FDA is Epidiolex which is used to treat seizures in children.

However even if all CBD were to get FDA approval today, we have a feeling that most insurance companies still wouldn’t cover CBD oil.

Health Insurance & CBD Oil: Here's What You Should Know
Full-spectrum CBD oil @kylelunchbox

Reasons Insurance Companies Would Not Cover CBD Oil

Negative perception of CBD among the public

When CBD is mentioned, most people automatically think of cannabis and that’s understandable; CBD is one of the compounds found in cannabis. What most people fail to understand is that CBD and cannabis are not the same thing. It has been proven time and again that using CBD will not get you high; however, this hasn’t stopped some people from viewing users of CBD as junkies.

Public perception is vital in any industry especially if the members of the public are also your shareholders. Every company is accountable to its shareholders and at the end of the day, health insurance providers are still companies. They might want to cover CBD oil but they wouldn’t risk going against their shareholders.

Hostility from government agencies

We live in societies where most of the power rests in the hands of the government. While this is not necessarily a bad thing, it might delay the progress of society in some areas.

One of the areas where the government has delayed progress is in the field of CBD. In 2001, the Drug Enforcement Administration (DEA) issued a notice in which they denied a petition to reschedule cannabis and the products derived from it.

This wouldn’t be the last time that the government slowed down the progress of CBD. Alex Azar, the current Secretary of Health and Human Services in the US, dismissed the importance of medical marijuana.

Health Insurance & CBD Oil: Here's What You Should Know
Hemp extract to the sky @summitoils

We are sure right now you are wondering if there’s any hope of health insurance companies ever covering CBD oil. There’s a growing feeling among some stakeholders that it’s only a matter of time before health insurance companies cover CBD products.

After that, it’s up to the insurance companies to decide when they will start covering CBD oil. Thank you for reading! Be sure to also check out “How Long does CBD Oil Stay in Your System?” to see how long a CBD product would stay in your body.

Let us know in the comments below if you’re already using CBD oil in your everyday life. Follow us on Instagram or Facebook for more daily inspiration from the world of medical marijuana and CBD.


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