Canadian Insurance company Sun Life will now cover its members’ medical cannabis costs as part of their insurance coverage, making it the first company in North America to do so.
Currently Canada has a for-profit, commercially structured medical cannabis program, thanks to the passing of 2013’s Marihuana for Medical Purposes Regulations. The nation’s medical cannabis program could most closely be likened to that of California, where prescriptions are written for anything from eating and sleeping disorders to cancer and epilepsy.
But while it may not be especially difficult to obtain a medical cannabis prescription, medicinal costs have prevented many from signing up as of yet. Sun Life’s new policy has paved the way for more private insurance companies to open coverage on medicinal cannabis, which will no doubt increase interest and participation in the program.
There’s been a lot of talk about marijuana reform in Canada since Prime Minister Justin Trudeau took office; this is a clear sign that at least some Canadian businesses believe he'll follow through and put their money where his mouth is.