Amazon, Berkshire Hathaway and JPMorgan Chase Form Employee Healthcare Partnership

amazon-health-2nd_image_1280x500

KEY POINTS

  • Amazon, Berkshire Hathaway and JPMorgan Chase announced the formation of a partnership designed to address healthcare for the companies’ US employees. The goal is to improve employee satisfaction and reduce costs.
  • The three companies plan to pursue this goal through an independent, non-profit-seeking company.
  • The new company will initially focus on technology solutions designed to provide the three companies’ US employees and their families with simplified, high-quality and transparent healthcare options at a reasonable cost.

Details from the Announcement

Amazon, Berkshire Hathaway and JPMorgan Chase announced plans to form a partnership to find ways to address healthcare for their US employees. The goal is to improve employee satisfaction and reduce costs. The three companies will bring their scale and complementary expertise to this long-term effort and will pursue their objective through an independent company free of profitmaking incentives and constraints. The new company will focus on technology solutions that can provide the three partner companies’ US employees and their families with simplified, high-quality and transparent healthcare options at a reasonable cost.

The effort is still in the early planning stages. The new company’s initial formation will be jointly spearheaded by an investment officer of Berkshire Hathaway, a managing director of JPMorgan Chase and a senior vice president at Amazon. The companies plan to announce the longer-term management team, headquarters location and key operational details in due course.