Nationwide Legalization Of Medical Marijuana Could Save $29 Billion In Annual Health Insurance Costs, Study Finds
New research by the medical cannabis company Leafwell suggests that state-level medical marijuana legalization may significantly reduce health insurance costs. In states with legal medical cannabis, companies paid 3.4 percent less for health insurance premiums compared to where marijuana remained illegal—a savings of about $238 per employee per year.
If all states were to implement medical cannabis programs, the study says, the country could save an estimated $29 billion in health insurance costs annually.
“This report strengthens the case that investing in cannabis care isn’t just beneficial to patient care, it’s also good for business efficiency,” Leafwell Chief Medical Officer June Chin said in a statement about the new findings. “By including cannabis in insurance plans, employers can foster a more inclusive and supportive work environment, enhance employee satisfaction, and ultimately contribute to a healthier, more resilient workforce.”
The study, published this month in the journal Applied Health Economics and Health Policy, looked at data from an annual surveys of employers, analyzing a period from 2003 to 2022.
“Over the first ten years of a state implementing medical cannabis laws, we found evidence of reductions in health insurance premiums for single and employee-plus-one coverage plans,” the company said in a
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