More New Mexicans likely to enroll in tax-free therapeutic cannabis program

The number of patients in New Mexico's therapeutic cannabis program is expected to blaze even higher as it approaches 131,000 and some people will be able obtain the medication at no cost if they're enrolled in an accredited insurance plan. 

Senate Bill 317, which was signed into law in 2021 and took effect in January includes all medications for behavioral health conditions including post-traumatic stress. 

The sponsors of SB 317, Democratic Sens. Jeff Steinborn of Las Cruces and Martin Hickey of Albuquerque, said Wednesday the law makes it clear insurance coverage of medical cannabis should be offered to patients. The law does not apply to patients who receive Medicaid coverage, which is in part funded by the federal government, Hickey added. [New state law requires health insurers cover medical cannabis for some conditions]

The NM Department of Health will maintain the patient registry while ensuring sales remain tax-free even after retail sales for all adults over 21 begins in April but it’s predicted demand for all cannabis products will overwhelm supplies.

There are concerns that a budding hemp industry will drive more growers of therapeutic and “recreational” cannabis indoors to prevent pollen drift from destroying crops and will boost energy costs.

Here in the Land of Enchantment supporters are lauding cannabis legalization as a way to diversify New Mexico’s economy, raise revenue for infrastructure, address inequities left by the war on drugs and balance the state's water crisis with growers who prove they have valid and sufficient water rights.

Learn more at the Santa Fe Reporter.