Sun Life Financial is about to become the first Canadian health insurance company to cover medical marijuana.
The Toronto-based insurance company announced it would be adding medical cannabis as an option for its extended group benefit plans starting on March 1.
“Sun Life’s approach reflects current evidence-based clinical knowledge regarding the medical use of cannabis. Medical evidence supports the use of cannabis for some serious and severe medical conditions,” states the company.
The new coverage will include a yearly maximum ranging from $1,500 to $6,000, along with coverage criteria and a prior approval process.
Sun Life says that, at this time, its medical cannabis coverage will be available for specific conditions and symptoms including cancer, multiple sclerosis, rheumatoid arthritis pain, HIV, and palliative care.
While this is their criteria to start, it may change with time.
“There is a slowly growing body of clinical research for the medical uses of cannabis,” says the Canadian insurance company. “For this reason, Sun Life will conduct periodic reviews of evolving clinical evidence, supporting the use of medical cannabis for conditions listed [above.]”