Sun Life Assurance Co., a major Canadian health insurance company, will soon cover medical cannabis on its group benefits plan on March 1st. This is the first major health insurance company to ever cover medical cannabis. In fact you would be able to get up to $6,000 of your cannabis paid for.
“Sun Life’s approach reflects current evidence-based clinical knowledge regarding the medical use of cannabis,” Sun Life said in a release on Thursday.
“As this has become something our clients—being the individual companies known as plan sponsors—have been asking us about more and more, we have moved from the stage of evaluate and review, to now offering it as a benefit for medicinal purposes,” said Dave Jones, senior vice-president of group benefits at Sun Life.
It will be an optional coverage and the yearly maximums for the coverage will range from $1,500 to $6,000 per person per year. The conditions eligible for coverage will be: cancer, multiple sclerosis (MS), rheumatoid arthritis, HIV/AIDS, and for patients in palliative care.
This is great news for those who seek cannabis treatment and can’t afford it. Medical cannabis treatment can indeed get rather expensive. Depending on the condition, treatment could end up costing many patients thousands of dollars that they don’t have.