Could Marijuana Reclassification Be Answer to Maintaining Medicare?
The U.S. Justice Department took significant steps toward changing the legal status of cannabis in May by beginning the process to move the substance from schedule 1 to schedule 3, a less-restrictive category under federal drug laws. This shift is noteworthy because it reflects the recommendations of medical experts at the U.S. Department of Health and Human Services (HHS), who have recognized that cannabis now has an accepted medical use. Equally crucial is that reclassifying marijuana could boost much-needed research into its medical potential.
However, simply changing the plant’s classification won’t be enough to make a substantial impact. True progress will only occur if policymakers take swift and decisive actions to enable more in-depth research into medical marijuana and its potential as an alternative treatment, especially for age-related health issues.
One of the leading proponents of incorporating marijuana-based treatments into elder healthcare is Howard Kessler, creator of the Commonwealth Project in Massachusetts. Kessler played a key role in starting research at the Florida-based MorseLife Health System that discovered more than 62% of senior citizens between the ages of 65 and 75 could cut back on or completely stop taking their prescription drugs by using cannabinoid-based therapy.
Kessler notes that while the findings are encouraging, more extensive research is essential. This kind of research would give seniors and medical professionals the knowledge they need to make educated decisions regarding the advantages of medical marijuana.
Kessler’s advocacy reflects the same commitment that inspired President Lyndon B. Johnson to sign the Medicare and Medicaid Act into law in 1965, creating Medicare to guarantee healthcare coverage for those 65 years of age and older.
Nearly six decades later, this commitment is under strain due to the rising costs of maintaining Medicare. One of the most pressing threats to senior health today is the overreliance on prescribed opioids for pain management. The widespread use of these highly addictive drugs among seniors has led to increased risks of overdose and addiction. In this context, medical marijuana presents a potential alternative.
Evidence from states where cannabis is legal suggests that doctors prescribe significantly fewer doses of painkillers to patients enrolled in Medicare. Based on these figures, medical cannabis might save up to $500 million a year in costs if it were legalized nationwide.
If cannabis is indeed reclassified, conducting more studies to investigate its safe and controlled application in the treatment of pain and other ailments should come first, especially in the context of Medicare Advantage. Such research could not only lead to substantial savings for the Medicare system but also improve the quality of life for seniors by offering them better, safer treatment options.
As entities such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) continue to bring to market more efficacious medical-marijuana formulations, the uptake of these treatments could spur additional reforms that could see the existing restrictions further eased.
