Will Medical Marijuana Ever Be Covered By Medicare?
The biggest hurdle that marijuana is unlikely to overcome any time soon is its safety profile. It's probably going to take many years before lawmakers have enough data to the point where they feel comfortable deciding whether or not to legalize or decriminalize marijuana. While always a possibility that Congress could legalize the drug, there's no guarantee that existing marijuana stocks and businesses have enough cash in their coffers to survive the long wait. Additionally, there are no guarantees that Congress will even push to legalize or decriminalize the drug, period.
Plus, marijuana businesses are at a distinct disadvantage to "normal" businesses until the government changes its stance on the drug. In the meantime it means minimal access to basic banking services such as a checking account or line of credit, as well as having to pay substantially more in federal taxes.
Medical marijuana's progression is a story worth monitoring; and one day in the future it may be moneymaker for investors and an option for Medicare patients. But, for the time being your best bet is to keep your investment money far away from the marijuana industry with so many questions still left unanswered, and to come to the realization that Medicare is unlikely to cover medical marijuana anytime soon.
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The article Will Medical Marijuana Ever Be Covered By Medicare? originally appeared on Fool.com.
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