MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) announced a significant coverage expansion for its NeuroStar transcranial magnetic stimulation (TMS) therapy, as TriWest — the regional administrator for TRICARE — updated its medical policy to include adolescents aged 15 and older. The change is effective immediately and applies across 26 states, marking one of the broadest adolescent mental health coverage decisions yet for TMS.
TRICARE serves active-duty military members, retirees, and eligible dependents. With the inclusion of adolescents, military families in states spanning from California and Texas to Illinois and Washington now have access to a non-drug treatment option for major depressive disorder (MDD) at a time when adolescent depression rates continue to rise.
“TRICARE’s decision to expand coverage for TMS to adolescents is a significant step forward,” said Keith J. Sullivan, President and CEO of Neuronetics. He emphasized that the update reinforces the need for evidence-based treatments and expands access to patients who have historically faced limited therapeutic options.
Geoffrey Grammer, MD, the company’s Chief Medical Officer and a retired U.S. Army Colonel, noted the unique emotional burdens faced by children of service members. He said the decision ensures that military families “receive the care and support that honors their families’ service to our nation.”
Roughly 4.3 million U.S. adolescents aged 15–21 are affected by major depression. Treatment options approved for adolescent patients remain limited, giving TMS an increasingly important role as a first-line or add-on therapy. NeuroStar received FDA clearance for adolescents in 2024, and coverage has since expanded across multiple major insurers, including Aetna, Humana, Cigna’s Evernorth, and BlueCross BlueShield HCSC.
Neuronetics remains the only TMS manufacturer with a dedicated health policy team, positioning the company to accelerate payer adoption as demand for non-pharmacological depression treatments grows. The company framed the TRICARE expansion as both a milestone for the NeuroStar platform and a meaningful step for military families seeking broader access to mental health care.
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