February 16, 2018
Last month, Amazon, Berkshire Hathaway, and JPMorgan Chase announced they are joining forces to set up an independent health care company designed to be “free from profit-making incentives and constraints” and aimed to achieve lower health care costs for their U.S.-based employees. This new alliance, created by CEOs Jeff Bezos, Warren Buffett, and Jamie Dimon (“BB&D”), validates and reinforces the need for employer-led innovative solutions that address high costs in the health care industry. This includes solutions being developed by the Health Transformation Alliance (HTA), which has contracted with PBMs to save 21 companies an estimated $600 million over three years. The HTA is also contracting with health care providers to provide care for employees with diabetes, lower back pain, and hip and knee replacements, and has partnered with IBM Watson software to provide insights and analytics based on HTA member claims data. HR Policy Association and the American Health Policy Institute are committed to fostering a climate where large employers can work together to identify solutions that lower costs and improve health care outcomes for their employees.