JPMorgan Chase, Amazon and Berkshire Hathaway to disband overall health venture
05 January, 2021
Haven, a jv of Amazon, Berkshire Hathaway and JPMorgan Chase shaped three years ago to create US health care less expensive, announced on Monday it will disband.
The venture will end in February, Haven announced on its website, adding that the three companies plan to "continue to collaborate informally to create programs tailored to handle the precise needs of their own employee populations."
"In the past 3 years, Haven explored an array of healthcare solutions, along with piloted new ways to make primary health care better to access, insurance benefits simpler to understand and better to use and prescription drugs more affordable," the firms said in a statement.
Jeff Bezos's Amazon, Warren Buffett's Berkshire Hathaway and the fiscal giant JPMorgan Chase had announced in 2019 they might create a nonprofit health care plan to "provide US employees and their families with simplified, high-top quality and transparent healthcare at a reasonable cost."
The trio aimed to become a disruptor in the healthcare industry, like Amazon has been around retail, utilizing their combined info, technology, investing in power and customer contacts to improve delivery while cutting costs.
The companies did not specify how many persons would benefit under the new program, but a source told AFP that at that time, domestic employees of the firms and their dependents likely amount to at least a million people nationwide.
Rising health care costs in the US, which may be the only major market that does not provide universal medical coverage to its citizens, can be a perennial political concern that is likely to be about the agenda pertaining to President-elect Joe Biden when he calls for office this month.
Source: www.thenationalnews.com