Reinsurance News

Evergreen Pacific first reinsurer to cover medical cannabis costs

19th September 2018 - Author: Charlie Wood

Evergreen Pacific Reinsurance Company is to provide coverage for health insurers prescribing cannabinoid therapeutic treatments.

Evergreen Pacific says it is welcoming insurance company enquiries regarding its new turnkey health insurance rider to cover medical cannabis costs, to be deployed inside health insurance plans.

“Evergreen Pacific’s fully integrated solution combines multi-disciplinary medical services, education and training, and a first-of-its-kind e-commerce marketplace for health and wellness products and services,” said Paul Laverty, President of Evergreen Pacific.

Cannabinoid therapeutics is an emerging insurance segment with rapidly evolving regulatory and legal frameworks across multiple global jurisdictions.

In response to market demands, insurers in these jurisdictions are looking for solutions to add coverage to healthcare insurance plans, while managing the high up-front costs typically associated with cannabinoid therapeutic treatments.

“We are excited to be the first to offer insurers an innovative turnkey solution providing employers with greater flexibility and cost containment, while also supporting better medical outcomes for employees,” added Laverty.

“We are also looking to expand our solution to provide integrated claims management of pre-authorized prescription drugs including accounting, workflow, pre-authorization process, treatment protocols and patient case management. This integrated approach will result in better pricing and outcomes for patients.”

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