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Acquisition & Development Corp.
A Revolutionary Health Plan Carrier
NDEV: The Canadian regulations are ongoing and proposed changes are very fluid right now and as these changes happen we constantly see opportunities and gaps in the insurance market where we can market our benefits package. We plan to announce the benefits package this coming January 2018, and one very important factor is the beauty of insurance over the test of time is that where ever the regulations and the market goes we can adapt our policies and plans to meet these demands.
CCIM: Is this a Health Spending Account or is it indeed “benefits” coverage?
NDEV: As it stands, since legal cannabis is not being fully accepted by conventional insurance until it has been approved by Canadian Food Inspection Agency (CFIA) and/or the Department of Health Canada (Health Canada) , with a drug number, and right now the government’s concern is focused on safety and regulation.
Currently it will be tax deductible for Canadians to utilize their HSA’s and those who want to preserve their HSA balance we will be giving non-risk plans that will still give them discounts directly to their employer or to the patient themselves.
We can move into the reimbursements and co-pays once a Drug Identification Number, which we estimate will be in the next two years. Until then, this gives us that first mover advantage to capture as much market share as possible. And that milestone can be achieved with our technology.
CCIM: This is a two-part question: What will the structure of the plan be? And, Is the cannabis coverage a stand-alone benefits package OR can it be part of an entire health benefits package (dental, other medical, vision, etc)? What about Canadians who already have a benefits plan through work, for example, can they also purchase additional coverage through NDEV?
NDEV: Initially, it is straight discount for the patient and its working very well in the U.S. The reader must understand that the value to the patient is the savings on cannabis medication, on a monthly and yearly basis. For instance we get a lot of patients signing up that have large consumption levels, but even small to moderate consumption levels works. If a patient spends at least $150 per month which is very