States With Legal Medical Marijuana See Reduction In Health Insurance Premiums
The relationship between legal medical marijuana and its impact on various aspects of society continues to be a subject of interest and research. A recent study suggests that states with legal medical marijuana see reduction in health insurance premiums. This potential correlation has attracted attention due to its potential implications for both the healthcare and cannabis industries.
Dr. Bill ButcherAug 18, 2023276 Shares92151 Views
The relationship between legal medical marijuana and its impact on various aspects of society continues to be a subject of interest and research. A recent study suggests that states with legal medical marijuana see reduction in health insurance premiums. This potential correlation has attracted attention due to its potential implications for both the healthcare and cannabis industries.
According to a recent study published in the International Journal of Drug Policy, healthinsurance premiums were significantly lower in states where medicinal marijuana was authorized than in states where it remained strictly prohibited.
The studyinvestigated the effects of legal medical marijuana on health insurance premiums across various states. Researchers examined data from states that had implemented medical cannabis laws and compared them to states that had not legalized medical marijuana. The primary focus was to determine whether the presence of legal medical marijuana had any influence on health insurance premium costs.
According to the findings of the study, states with legal medical marijuana see a reduction in health insurance premiums. The exact percentage of reduction may vary from state to state, but the overall trend suggests a noteworthy correlation.
Even though the initial cuts were small, the study indicated that seven years after adoption, annual premiums had decreased by $1,663 in comparison to the control group of states. After eight and nine years, identical declines ($1,542 and $1,626) were observed, showing that the decline remained largely stable over time.
Researchers Amanda C. Cook of Bowling Green State University, E. Tice Sirmans of Illinois State University's School of finance, insurance, and Law, and Amanda Stype of Eastern Michigan University all contributed to the study.
The new study expands on a growing corpus of work outlining the possible public healthadvantages of legalizing marijuana. Studies have shown, for instance, that states with legalized medical marijuana have much lower rates of opioid prescriptions. A survey from earlier this year discovered a similar relationship between adult use legalization and "reductions in opioid demand."
Another sign that patients are turning to cannabis as a substitute for prescription medications was revealed in March by a different study that found states with medical marijuana laws had fewer opioid payments to doctors.
Conclusion
A study shows that states with legal medical marijuana see a reduction in health insurance premiums. This sheds light on the potential broader impact of cannabis legalization.
While further research is needed to fully understand the causal relationship between these factors, the findings suggest that legal medical marijuana could have positive implications not only for patient health but also for healthcare costs and insurance affordability.
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