Amazon, Chase, and Berkshire Hathaway Launching Health Insurance Company for American Employees

by Precise Leads Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. hope to lower healthcare costs by forming their company.

In an announcement that shook the healthcare industry, Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. have formed a partnership to explore ways to reduce healthcare costs for their U.S. employees. The three major companies employ a combined 1 million workers and have a market capitalization of $1.6 trillion.

“The ballooning costs of healthcare act as a hungry tapeworm on the American economy,”  Berkshire Hathaway Chairman and CEO Warren Buffett said in a statement. “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.”

Industry Reaction

After the announcement, shares of several healthcare companies including Express Scripts Holding Co., CVS Health Corp., Cigna Corp., and Anthem Inc. tumbled, an occurrence that didn’t surprise some analysts who termed the partnership of three powerful companies as yet another sign of disruption in the healthcare marketplace. The merger between CVS Health and Aetna, Inc. — a retail chain and a traditional insurer — indicates that healthcare providers are seeking new ways to deliver patient care in a rapidly transforming marketplace.

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