Article- Green Market Report: Psychedelics Bump Up Against the Iffy World of Healthcare Insurance

Here’s their introduction

Healthcare insurance for psychedelics is being explored with more vigor today as patients begin to realize the enormous costs involved in such therapy.

Expensive Treatments

For example, patients accessing legal MDMA therapy require two licensed therapists, about 20 psychotherapy sessions and possible overnight hospital stays. The total treatment costs range from $12,000-$20,000.

Psilocybin retreats often come in at $5,500 or more per person, with many located in Amsterdam or Jamaica that don’t include round-trip airfare.

There are a handful of insurance companies jumping into the market, always with the caveat that the limited coverage they can provide is very risky and therefore very expensive.

Progress may be closer at hand.

In November, Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announced that it got approval for direct billing of intravenous (IV) ketamine for treatment-resistant depression (TRD) from four major health insurance providers: Blue Cross Blue Shield, the University of Utah, PEHP Health & Benefits and MBA Benefit Administrators. “This initial success with insurance coverage of ketamine is promising for the future of psychiatry because it sends a strong signal that payors are interested in more effective treatments for mental health conditions as supporting research emerges,” Novamind Chief Medical Director Dr. Reid Robison wrote in a tweet.

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Psychedelics Bump Up Against the Iffy World of Healthcare Insurance

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