Novus Acquisition & Development Corporation (NDEV), is a Nevada-based enterprise and licensed California supplemental insurance entity that offers cannabis as a part of consumers’ health insurance plans.
Novus’ business model has a first-mover advantage in the US and Canada’s legal cannabis market, targeting medical and recreational cannabis consumers. Novus develops and offers cost-saving health plans for consumers and businesses, focused around, THC Plans that are sold in legal states and CBD Plans which are sold nationwide. All plans such as dental, vision, hearing, and telemedicine, include cannabis benefits making these plans compliant with Employer-Sponsored Health Plans.
Compassionate Care Act: where employees are protected from termination for using medical cannabis, this led the way to employer-sponsored health plans.
Opioid Settlement Framework: settling with carrier and big pharma in $45 billion compensatory damages, rehabilitation, and opioid diversion programs which Novus proposes its health plans.
Rising Recreational Cannabis Taxation: especially in California, taxation is as high as 37% prompting recreational users to get their state cannabis cards and join our health plan to get the medicinal tax rate which is 50% less than the rec tax rate.
American Veterans: legislation that allows cannabis benefits to 19 million Veterans. The Veterans Cannabis Use for Safe Healing Act: Prohibits the Department of Veterans Affairs (VA) from denying VA benefits due to participation in a state-approved cannabis program(s).
Novus has a first-mover advantage in obtaining a lion-share of the market through its established branding initiatives and consumer loyalty before other competitors even began to move into the cannabis sector.
Unlike conventional insurance carriers, the Novus program offers significant cost savings on legal cannabis meds and other supplemental health plans. Conflicting federal and state laws surrounding this burgeoning industry have caused widespread confusion, leading to conventional insurance companies continuing to refuse coverage of hemp, cannabidiol (CBD), medical cannabis (THC), and alternative/ integrative treatment options for patients.
The Novus model is unique, focusing on the deficiencies of private and government health plans in the US and Canada by integrating supplemental plans that include legal cannabis meds for recreational and medicinal users.
The main reasons behind Novus’ head start in this health insurance sector can be attributed to three factors:
Since cannabis is not legal federally, many major insurance carriers will not jeopardize their multi-billion-dollar Federal Medicare/Medicaid contracts by doing business in this sector.
Insurance companies generally don’t favor meds that have not been approved by the US Food & Drug Administration (FDA).
Major carriers usually concentrate on acquiring market share as opposed to creating it.
Rising of InsurTech Platforms: A disruptive and innovative technology that sells direct to consumers who have employer-sponsored health plans. These platforms sell health policies on an ala carte basis as opposed to one-size-fits-all health plans. Gaining entry to these platforms can save 30-40% on commission outlay.
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| Shareholders | 2443 | Sept 1, 2023 |
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