live video

Democratic gubernatorial debate underway

Amazon, Berkshire Hathaway and JPMorgan Chase to partner on U.S. employee health care


Amazon, Berkshire Hathaway and JPMorgan Chase & Co. announced they will create a health care company for their U.S. employees that is "free from profit-making incentives."

The companies say they are partnering on health care to increase employee satisfaction and reduce costs. 

The trio of companies will work with an independent company that is free from the constraints of profit-making incentives. 

>> Read more trending news 

The initial focus of the new company will be on technology that will provide their employees with high-quality, reasonably priced health care.

“The ballooning costs of health care 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.

“The health care system is complex, and we enter into this challenge open-eyed about the degree of difficulty,” said Jeff Bezos, Amazon founder and CEO. “Hard as it might be, reducing health care’s burden on the economy while improving outcomes for employees and their families would be worth the effort. Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”

The company is in the initial planning stages.

– The Associated Press contributed to this story.


Reader Comments ...


Next Up in Nation & World

Royal Wedding: Meghan Markle, Prince Harry wed (live updates)
Royal Wedding: Meghan Markle, Prince Harry wed (live updates)

Actress Meghan Markle and Britain’s Prince Harry got married Saturday in a highly anticipated, star-studded ceremony in St. George’s Chapel at England’s Windsor Castle.  Update 6:21 a.m. EDT Sunday: The British royal family took to Twitter late Saturday to congratulate Prince Harry and Meghan Markle and thank their guests...
'Royal wedding guest name' quiz could help scammers get your personal data
'Royal wedding guest name' quiz could help scammers get your personal data

A seemingly innocent quiz that has been sweeping social media could help scammers get their hands on your personal data, experts say. "What's your royal wedding guest name?" the meme, which began circulating ahead of Saturday's royal wedding, asks. One version reads as follows: "In honor of the royal wedding, use your 'royal wedding...
2 inmates escape Ohio prison, still at large, deputies say
2 inmates escape Ohio prison, still at large, deputies say

Law enforcement is asking for the public’s help to find two Ohio prisoners who escaped Saturday night from the Community Correctional Center in Turtlecreek Township. Deputies from the Warren County Sheriff’s Office responded around 8:30 p.m. to the area of 5234 State Route 63, the CCC, for a report of two men running through a...
Barber throws man who complained about haircut through window
Barber throws man who complained about haircut through window

A man got more than his hair cut, when an argument with the barber over the style led to the man getting thrown through a glass window, police said.  The 33-year old victim was not satisfied with his haircut Thursday and threatened not to pay, according to the New York Daily News. In response, the barber at Levels Barbershop, in Brooklyn...
Dog dies after being left in hot car
Dog dies after being left in hot car

A man is facing animal cruelty charges after he reportedly left a dog in a hot car.  The dog later died despite efforts to rescue him. Anthony Griffith is charged with animal cruelty after the dog was left in a car at Southeast Georgia Health System in St. Marys.  The dog fell to the pavement when an officer arrived and opened the car door...
More Stories