Amazon, Berkshire Hathaway and JPMorgan Chase & Co. announced that they are partnering on ways to address health care for its U.S. employees. The three companies will pursue their objective through an independent company that is free from profitmaking incentives and constraints. The initial focus of the new company is to use technology solutions that will provide employees and their families with high quality healthcare at a reasonable cost.
“The ballooning costs of healthcare act as a hungry tapeworm on the American economy. Our group does not come to this problem with answers. But we also do not accept it as inevitable. Rather, we share the belief that putting our collective resources behind the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes,” said Berkshire Hathaway Chairman and CEO, Warren Buffett.