Health Insurance for Medical Marijuana Is Now a RealityPosted by On


Cannabis is legal in some form in 34 U.S. states, with five more pending legalization. Of those states, most have legalized all forms of cannabis for medicinal purposes, though a handful have only legalized CBD oil.

Despite increased legalization, there remains a major void in the medical cannabis market: health insurance. 

The reason major health insurance carriers won’t cover cannabis is they require their drug formulary approved by the FDA before it can be covered in their medical plans. With cannabis still classified as a Schedule I drug at the federal level, no such drug has been approved with exception of Epidiolex, an FDA-approved CBD-based epilepsy medication developed by GW Pharmaceuticals. 

There are a handful of health insurers that do provide coverage for cannabis, but they don’t advertise their coverage, leaving patients instead to rely on word of mouth. But with cannabis and cannabis-based products growing more and more popular, so too is the need for cannabis-based health insurance. 

Introducing a Cannabis Health Plan

One in ten Americans who seek cannabis included in their health plans can turn to one such company, Novus (NDEV), which offers its proprietary health benefits to both medical and recreational cannabis users similar to prescription plans offered by major carriers through Novus Cannabis MedPlan.

Founded in 2015, Novus has built a sales…

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Cannabis is legal in some form in 34 U.S. states, with five more pending legalization. Of those states, most have legalized all forms of cannabis for medicinal purposes, though a handful have only legalized CBD oil.

Despite increased legalization, there remains a major void in the medical cannabis market: health insurance. 

The reason major health insurance carriers won’t cover cannabis is they require their drug formulary approved by the FDA before it can be covered in their medical plans. With cannabis still classified as a Schedule I drug at the federal level, no such drug has been approved with exception of Epidiolex, an FDA-approved CBD-based epilepsy medication developed by GW Pharmaceuticals. 

There are a handful of health insurers that do provide coverage for cannabis, but they don’t advertise their coverage, leaving patients instead to rely on word of mouth. But with cannabis and cannabis-based products growing more and more popular, so too is the need for cannabis-based health insurance. 

Introducing a Cannabis Health Plan

One in ten Americans who seek cannabis included in their health plans can turn to one such company, Novus (NDEV), which offers its proprietary health benefits to both medical and recreational cannabis users similar to prescription plans offered by major carriers through Novus Cannabis MedPlan.

Founded in 2015, Novus has built a sales…



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