Medical Marijuana Employee Benefits Program Now Available Thanks To This Partnership

Cannabis payment platform CanPay teamed up with CannaPlan, an employee benefits platform for employers to provide funding for their employees’ medical marijuana purchases. Under this partnership, CanPay will enable the use of CannaPlan funds to offset the costs of their purchases at cannabis dispensaries.

“Most insurance companies are either unable or unwilling to offer medicinal cannabis benefits to employers," stated Dustin Eide, CEO of CanPay. "CannaPlan is working to solve an issue for employees and employers – much like CanPay solved the issue of legitimate, stable payments for cannabis – by bridging the gap between employer-funded healthcare prescriptions and medicinal cannabis. We’re thrilled to be able to support CannaPlan by providing the no-cost digital payments platform for its users to apply their benefits when purchasing medicinal cannabis."

With CanPay's app consumers can pay for purchases at cannabis retailers with a debit from their checking account using the Automated Clearing House (ACH) network. Now, consumers with CannaPlan membership through their employer will be able to use the CanPay app to apply their monthly CannaPlan benefits to cannabis purchases at dispensaries. CanPay’s payments network has more than 300,000 users and over 1,100 dispensaries across 34 states that accept the mobile payment app.

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CanPay alerts CannaPlan members when their funds are available. Members can then convert their CannaPlan funds into CanPay Points, which can then easily be used to help pay for their purchases using the app at dispensaries. The service comes at no cost for CannaPlan members. Merchants can expect to see increased spending at their dispensaries, with no additional cost to them.

Stew Baskin, CEO at CannaPlan, commented, “CanPay is the only payments network large enough, and sophisticated enough, to facilitate CannaPlan’s employee benefits program at medicinal cannabis dispensaries. By helping employers offset the cost of medicinal cannabis for their employees, we aim to reduce prescription drug costs for companies, saving money on future premium increases. Alongside these potential cost savings, top-notch employee benefits work to attract and retain top talent, especially in high turnover industries."

CannaPlan offers employers the opportunity to support their employees by covering medical cannabis physician consultations and medications. This new approach to employee wellness can help employers reduce future pharmaceutical plan costs and stand out to prospects.

Related links: Seamless Cannabis E-Commerce Prepayments With CanPay’s RemotePay Integration

Photo: Courtesy of Bukhta Yurii via Shutterstock