Marijuana could drive benefits usage up

With the likely legalization of recreational marijuana looming, an increasing number of individuals will view medical cannabis as an acceptable form of treatment, which can drive a benefit plan’s usage up, says a Morneau Shepell ‘News & Views.’ Undoubtedly, the pressure is likely to increase on plan sponsors to provide coverage and the potential cost impact for marijuana could be significant. Insurance companies are still hesitant to provide specifics on the projected cost impact, citing a lack of credible data. Nonetheless, the estimated cost of a regular marijuana user is projected to be around $10,000 per year. Beyond group benefits, medical marijuana in the workplace raises a number of concerns for employers and relevant policies should be proactively reviewed or created. (End of article)

Source: Benefits and Pension Monitor News