Medical Marijuana Could Save Medicare $470 Million Annually, Study Shows

This could potentially be a groundbreaking year for the marijuana industry.

In November, residents in up to a dozen states could be voting on whether or not to legalize recreational or medical marijuana. This comes after Pennsylvania and Ohio passed laws legalizing medical marijuana in their legislatures this spring. As it stands now, half of the country has legalized the use of medical marijuana, and four states (plus Washington, D.C.) allow for the sale of recreational marijuana to adults ages 21 and up.

Arguably just as exciting is the possibility that the U.S. Drug Enforcement Agency could reclassify medical marijuana in a matter of weeks. The Food and Drug Administration has already submitted its opinion to the DEA, with the DEA now conducting its own investigation into the safety of medical marijuana. If the agency were to reclassify medical marijuana as anything other than schedule 1, which means an illicit drug, medical marijuana could be prescribed by physicians, and insurers may even begin covering the substance.

But that isn’t all. The good news just keeps streaming in for the cannabis industry.

To read more: http://www.fool.com/retirement/2016/07/17/medical-marijuana-could-save-medicare-470-million.aspx

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