Another attention-grabbing headline: insurance companies are now covering the cost of weed.
Toronto’s Sun Life Insurance is one of the largest in Canada. For the first time, plan sponsors can opt to add medical cannabis coverage to extended health-care plans, ranging from $1,500 to $6,000 per covered person per year.
For the time being, coverage is limited to a small set of specific conditions: cancer, rheumatoid arthritis, multiple sclerosis, HIV-AIDS, and palliative care. It seems to go without saying patients suffering from any such serious conditions deserve access to medical cannabis – and this is just the start.
The insight here isn’t really the story but more of what it represents. A story like this represents the broader acceptance of cannabis and speaks to the legitimization of the plant as medicine.
For entrepreneurs, this means an even larger market with even more opportunities to win.