Reefer Madness! Medical Marijuana is Already Saving $165M Per Year for Medicare

This news will give anti-marijuana crusaders fits.

A new study in the journal Health Affairs looked in great detail at prescription drug usage in U.S. states that have legalized medical marijuana. Researchers Ashley Bradford and David Bradford collected Medicare data for the period 2010-2013 to answer two questions: are patients choosing marijuana instead of prescription drugs for conditions that marijuana might treat, and what has been the overall effect on Medicare spending?

The bottom line: In 2013 alone, when 17 states had legalized medical marijuana, Medicare saved over $165 million. A simple extrapolation suggests that if all states legalize marijuana, annual savings could be triple that amount, $500 million. (Obviously this extrapolation is over-simplified: It depends on the actual populations of those 17 states, and it only considers Medicare. Commercial healthcare plans may save far more.)

– Read the entire article at Forbes.