Life Insurance And Suboxone: What You Need To Know

Life insurance is a complex product that is priced based on individual circumstances. While it is possible to obtain life insurance while taking Suboxone, a medication used to treat opioid addiction, there are several factors that influence the availability and cost of coverage. These include the length of sobriety, the insurance provider, the policy type, and the individual's medical history and needs.

Life insurance companies' requirements for applicants with a history of drug abuse

Life insurance companies will typically ask applicants about their current and past drug or alcohol use during the application process. While it is possible to obtain life insurance if you have a history of drug abuse, it is important to be upfront and honest about your situation. Here are some of the requirements and factors that life insurance companies will consider when evaluating applicants with a history of drug abuse:

• Minimum Sobriety Period: Most life insurance companies require applicants to be drug-free for a minimum period, typically ranging from one year to ten years. Some companies may require two to three years of sobriety, while others may prefer five or even ten years.
• Medical Exam: A medical exam, including blood and urine tests, is usually required to detect any signs of drug use. This is standard for individuals with a history of drug or alcohol abuse.
• Health and Lifestyle: The insurance company will assess your overall health and lifestyle, including diet, exercise, and any health complications caused by drug use. Stable living and working situations, as well as a supportive relationship, are also considered positive factors.
• Treatment History: The insurer will want to know if you have sought specialized treatment for drug abuse and whether there have been any relapses. They may also inquire about the specifics of your treatment, such as the duration and type of treatment received.
• Criminal Background: A criminal background check will be conducted, and any history of arrests or DUIs related to drug abuse may be viewed as a red flag.
• Honesty and Disclosure: It is crucial to be honest about your drug history. Withholding information or providing misleading answers may be considered insurance fraud and could lead to your policy being voided or claims being denied.
• Increased Premiums: Applicants with a history of drug abuse may be placed in a high-risk category and charged higher premiums. The rates will depend on the company's assessment of your individual health history and the specific drugs involved.
• Alternative Options: If you cannot qualify for traditional life insurance, there are alternative options such as group life insurance, guaranteed issue life insurance, or final expense insurance. These options may have lower coverage limits and higher premiums, but they can provide some level of protection.

It is important to note that each life insurance company has its own underwriting policies and guidelines. Working with an independent insurance broker or agent can help you navigate the different requirements and find the most suitable coverage for your specific circumstances.

How to find the right life insurance policy for your needs

Finding the right life insurance policy for your needs can be a challenge, especially if you have a history of drug abuse, but it's not impossible. Here are some steps to help you find the right life insurance policy:

Assess Your Needs

First, you need to determine if you even need life insurance. Ask yourself the following questions:

• Will my family or beneficiaries face financial hardships if they lost my income?
• Will my dependents be left with a large amount of debt after I die?
• Do I want to cover end-of-life expenses, including funeral, burial, or medical costs?
• Do I want to pay for a dependent's tuition, daycare, or retirement costs?

Calculate How Much Coverage You Need

The amount of life insurance you need depends on various factors, such as your personal and household income, the needs of your dependents or beneficiaries, and your financial goals. Consider the following:

• How will the loss of my income affect my dependents?
• How long would I like my income to provide financial support for my beneficiaries?
• How much will my dependents or spouse need to cover the mortgage or rent?
• What day-to-day expenses, if any, do I want to cover for my beneficiaries?
• How will my loved ones cover end-of-life expenses, like funeral costs and estate taxes?
• Do I want my life insurance policy to be used as an inheritance?
• Do I want part of my life insurance policy to go to a charitable organization?

Choose the Type of Life Insurance

There are two primary types of life insurance: term life and permanent life. Term life insurance provides coverage for a specific period, typically between 10 and 30 years, and is more affordable. Permanent life insurance covers you for your entire life and is more expensive. It also has a cash value component that grows over time, which you can withdraw or borrow against.

Research Different Insurance Companies

Today's market offers a wide range of providers and policy choices. You can work with an insurance agent, insurance broker, or directly with an insurance company. When choosing a company, consider the following:

• Check their financial strength ratings from independent rating agencies like AM Best.
• Review customer complaints and satisfaction through the National Association of Insurance Commissioners (NAIC) complaint index and sites like Trustpilot.
• Compare quotes from multiple companies to find the best rates and coverage for your needs.

Consider Additional Benefits

Life insurance policies often offer riders, which are additional benefits or options that can be added to your policy. Common riders include:

• Children's Term Rider: Allows parents to cover their children under the policy.
• Accelerated Death Benefit Rider: Allows access to death benefits if diagnosed with a terminal illness.
• Accidental Death Benefit Rider: Increases the death benefit if you die from a covered accident.
• Waiver of Premium Rider: Protects you if you can't pay the premium due to disability.

Be Transparent

When applying for life insurance, be transparent about your medical history, especially if you have a history of drug abuse or are currently taking prescription medications like Suboxone. Failing to disclose this information could result in higher rates or even a denied claim.

Compare and Choose

Finally, compare the different policies and companies you've researched, considering their financial strength, customer satisfaction, available policy types, riders, and application process. Choose the one that best meets your needs and provides the most comprehensive coverage at a rate you can afford.

The cost of Suboxone treatment without insurance

Suboxone prescriptions can range anywhere between $90 to $600 for a 30-day supply. Without insurance, Suboxone strips cost anywhere between $60 to $250 for a 14-day supply. The higher doses of Suboxone films are going to be on the higher end of the pay scale. Suboxone strips at 8 mg are about $10 per strip, and 16 mg doses are $20 per strip. With a target dose of 12 to 16 mg/4 mg, Suboxone strips can cost as much as $600 in a month without insurance.

Suboxone tablets are cheaper than Suboxone strips. The 2 mg/0.5 mg cost $3 or $4 per tablet, and the 8 mg/2 mg cost $6 to $8 per tablet. The target dose of 12 to 16 mg/4 mg brings the total monthly cost to about $360 to $480 for Suboxone without insurance.

At the time of writing, name-brand Suboxone prices can range anywhere from $177 to $570 for a 30-day supply. Generic buprenorphine-naloxone costs a lower price of $60 to $300 for a one-month supply, depending on the factors described above.

There are a few ways to reduce the cost of Suboxone treatment without insurance:

• Prescription savings cards: These are issued by companies that partner with pharmacies and drug manufacturers to reduce costs for self-pay medication.
• Patient assistance programs: The companies that manufacture Suboxone often offer programs to assist people who need the medication but can't afford it.
• Partial prescription dispensing: A pharmacy can spread out the cost by dispensing less than the prescribed quantity of the medication.
• Manufacturer coupons: These come from the pharmaceutical companies themselves and help you save on the cost of a predetermined number of prescription refills.

How to get a prescription for Suboxone

Suboxone is a prescription medication for addiction treatment, and it is one of three FDA-approved medications for opioid use disorder (OUD). It can be lifesaving, and while it is easier to obtain than in the past, it may still be difficult to access in an emergency.

To get a prescription for Suboxone, you must find a licensed doctor who can prescribe it. There are over 50,000 providers eligible to do so. Doctors must have approval from regulatory agencies, specifically, a current Drug Enforcement Administration (DEA) registration with Schedule III authority. After June 27, 2023, doctors applying for new DEA licenses or renewing old ones must meet one of the following requirements:

• A total of eight hours of training on OUD
• Board certification in addiction medicine
• Graduation within five years from a program that included an OUD curriculum lasting at least eight hours

If you need Suboxone immediately, there are a few options:

• Go to an emergency room: As of 2020, physicians in emergency departments can dispense a three-day supply of Suboxone, which patients can take home. They can also refer you to a detox facility or a doctor who can prescribe Suboxone long-term.
• Walk into an urgent care clinic: Doctors in urgent care clinics can provide a temporary supply, but not an ongoing prescription.
• Call your primary care physician: This is the most common way to get Suboxone, although it might not be the fastest option. Since federal law changes in 2023, many more primary care doctors now feel comfortable prescribing Suboxone.
• Work with an online Suboxone clinic: You can meet with a doctor licensed to provide telehealth in your state and get a prescription for Suboxone.

If you are currently taking Suboxone, your life insurance options will depend on your individual medical history. In most cases, insurance companies require applicants to be drug-free for a number of years, but this varies between insurers. Some will consider applicants who have been clean for two years, while others prefer five or ten years of sobriety.

If you are still in treatment or recent recovery from opioid addiction, you will probably not be able to get life insurance coverage. However, if you have been opioid-free for several years, it may be possible to get covered.

The benefits of Suboxone over other forms of MAT

While it is possible to get life insurance while taking Suboxone, it depends on the condition for which you are taking it. Suboxone is primarily used to treat opioid addiction, and a history of opioid addiction will affect your insurance rates and your ability to get covered. If you are currently taking Suboxone, it is unlikely that you will be able to get life insurance coverage. However, if you have been opioid-free for several years, you may be able to get covered, depending on your individual medical history.

Now, here is some information on the benefits of Suboxone over other forms of MAT:

Suboxone is a combination of two drugs, buprenorphine and naloxone, that work together to reduce opioid dependence and decrease withdrawal symptoms. It is part of a family of medications known as opioid antagonists, which block the "opioid effect" by preventing opioids from activating pain receptors in the brain. This helps to manage cravings and reduce withdrawal symptoms. One of the key benefits of Suboxone is that it is less habit-forming than other MAT drugs like methadone. Suboxone was specifically designed to treat opioid addiction and has a lower risk of dependency, with side effects that are usually less severe and physical rather than mental.

Suboxone also comes in two convenient forms: a tablet and a sublingual film, both of which dissolve in the mouth. The tablet form is often less expensive, while the film form allows for smaller dose increments, making it easier to taper off the medication gradually under medical supervision.

Another advantage of Suboxone is that it is just one part of a comprehensive recovery plan. While it can be an effective tool in fighting addiction, it should be combined with substance abuse counselling, behavioural therapy, and social support programs for the best results. This holistic approach ensures that patients receive the necessary physical and mental health support during their recovery journey.

Additionally, Suboxone is considered safer than other MAT options due to its lower abuse potential and reduced risk of overdose. Studies have shown that Suboxone is equally effective as methadone in suppressing opioid use but with a lower risk profile. This makes it a preferred choice for medical professionals and patients alike.

Frequently asked questions