New research by the medical cannabis company Leafwell suggests that state-level medical marijuana legalization may significantly reduce health insurance costs. In states with legal medical cannabis, companies paid 3.4 percent less for health insurance premiums compared to where marijuana remained illegal—a savings of about $238 per employee per year.

If all states were to implement medical cannabis programs, the study says, the country could save an estimated $29 billion in health insurance costs annually.

“This report strengthens the case that investing in cannabis care isn’t just beneficial to patient care, it’s also good for business efficiency,” Leafwell Chief Medical Officer June Chin said in a statement about the new findings.

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