US corporations in states which have moved to legalize medical hashish have decrease common medical health insurance prices, based on a brand new examine by Leafwell.
The analysis, Measuring the Affect of Medical Hashish Regulation Adoption on Employer-sponsored Well being Insurance coverage Prices: A Distinction-in-Distinction Evaluation, examines the monetary affect of medical hashish legal guidelines on employer-sponsored medical health insurance premiums.
Drawing on knowledge from the Medical Expenditure Panel Survey (2003-2022), carried out by the Company for Healthcare Analysis and High quality, it highlights vital healthcare value financial savings for employers in states which have enacted medical hashish legal guidelines.
In accordance with the info, corporations in states with a medical hashish framework noticed 3.4% decrease premium prices for particular person protection plans in comparison with states with out such legal guidelines, translating to a mean saving of $238 per worker yearly.
For worker plus-one plans, prices reductions have been 2.9% decrease, equating to annual financial savings of $348 per worker.
These value reductions would imply an organization of fifty workers would save round $14,650 per yr in medical health insurance premiums, equating to round $14.9bn throughout the US if all states had medical hashish markets.
Ought to medical hashish be legalized at a federal degree, the analysis predicts that US healthcare expenditures might be diminished by 0.65%, the equal of $29bn yearly.
Provided that healthcare accounted for 17.3% of U.S. GDP in 2022, this discount would have a big financial affect.
“As a result of medical hashish has change into built-in into healthcare, its affect is clear,” mentioned Leafwell Chief Medical Officer, Dr. June Chin.
“This report strengthens the case that investing in hashish care isn’t simply helpful to affected person care, it’s additionally good for enterprise effectivity. By together with hashish in insurance policy, employers can foster a extra inclusive and supportive work atmosphere, improve worker satisfaction, and in the end contribute to a more healthy, extra resilient workforce.”
