Medical Cannabis Insurance Coverage
Not sure if you have medical cannabis coverage through your insurance? This article will help explain the different types of coverage that may be available to help ease the financial burden of your medical costs.
The first step is to check with your employer. A growing number of insurance providers and employers have updated their plans to include coverage for medical cannabis, however coverage is sometimes limited to select conditions. Employees may have a distinct benefit category for medical cannabis within their plan, while others will allow medical cannabis to be claimed under their Health Care Spending Accounts (HSCA or HSA). It’s important to remember that you can also claim medical cannabis expenses on your taxes annually and can learn how here. At Canna Farms, patients are our priority. We’ve stayed true to our medical roots and outline our range of support programs to further assist patients with the cost of their medication in this article and you can follow the steps here on how to register with Canna Farms.
Insurance Companies that Provide Coverage
Insurance companies that provide coverage for medical cannabis typically have conditions that need to be fulfilled before coverage is provided. Coverage may only be provided for certain conditions which vary based on insurance company and employer. Common conditions for which cannabis coverage is provided include chemotherapy-induced nausea and vomiting (CINV), chronic neuropathic pain, spasticity associated with spinal cord injury/multiple sclerosis (MS), pediatric epilepsy, and anorexia due to HIV/AIDS.
Companies often require you to attain special authorization and you must purchase your cannabis through a licensed producer in the medical channel, such as Canna Farms. Coverage limits vary by employer and can range from as little as $100 to $10000 annually.
Contact your employer to see if you have coverage and to review the details of your specific plan. Although insurers make these plans available to employers, not all employers may opt in to make them available to their employees.
Step 1: Contact your employer to determine if your insurance plan provides coverage for medical cannabis.
Step 2: If your plan provides coverage, gather information on any documentation you require from your licensed producer or healthcare practitioner to make claims. Our Canna Farms team recognizes how important coverage is and are here to support you.
Step 3: Follow steps provided by your employer and insurance provider to submit your documents.
Steps and required documents will vary based on each employer and insurance providers, plan.
If you do not have a medical authorization document for medical cannabis currently and need help finding a healthcare practitioner experienced with medical cannabis visit one of our clinic partners like Harvest Medicine www.hmed.ca or Hello MD to book an appointment online.
Getting Coverage Through Your Healthcare Spending Account
A Healthcare Spending Account (HCSA) or sometimes abbreviated as an HSA, is a part of a benefits plan provided at the choice of the employer which allows for reimbursement of a broader range of healthcare expenses. A Healthcare Spending Account can be part of a flexible benefits plan or be implemented in a stand-alone basis as part of a traditional plan.
Your HSA can be used to cover expenses eligible under the Income Tax Act that are not already covered by another private or government plan. Medical cannabis is included in this list but we recommend checking with your employer/and or insurance provider on how they manage medical cannabis claims through your HSA.
Employers decide the amount of money that an employee will have in their HSA annually. The employee then submits claims for eligible medical expenses for reimbursement. The insurer processes the claim – this method is done until the money in the account reaches zero or until the account is disabled.
The major benefit is that a HCSA covers expenses not covered by traditional health insurance categories, such as medical cannabis.
Customers should follow these steps to get coverage through their Healthcare Spending Account:
Step 1: Contact your employer to determine if they provide healthcare spending account for employees.
Step 2: Confirm the requirements with your employer for making a medical cannabis claim against your HSA. Documents required may include purchase receipts from your medical cannabis licensed producer and your medical authorization document. Canna Farms patients can download past receipts when they login to our shop and visit the account section.
Step 3: Follow the steps provided by your employer to complete your claim reimbursement form and submit claim to your insurance provider.
Claiming Medical Cannabis on Taxes
As mentioned earlier, medical cannabis can be claimed as a medical expense on personal tax returns. Recreational cannabis cannot be claimed on your taxes. You need to have a medical document approved by a licensed healthcare practitioner and receipt of purchase from a medical licensed producer to avoid facing consequences of improperly filing taxes.
For more information please visit: https://cannafarms.ca/blog/how-to-claim-medical-cannabis-on-your-taxes
How Can Canna Farms Help?
Canna Farms is committed to helping patients improve their quality of life using medical cannabis. We listen to our patients and continuously innovate products to provide the patient with the best possible experience. Whether you currently have insurance coverage or are seeking more information to advocate for coverage, we’re here to support you.
Thousands have patients have chosen Canna Farms as their licensed producer of choice because we have stayed true to our medical roots and continue to prioritize patients.
If you have not registered with us yet, learn how here and reach out to our experienced Patient Care Team with any questions.
Tel: +1 855 882 0988
Fax: 1 855 244 9158
Email: care@cannafarms.ca