Amazon announces the establishment of a new health insurance company in collaboration with Warren Buffett "God of investment"

BySam Churchill

Led by Jeff BezosAmazonAnd investment / insurance company whose CEO is Mr. Warren Buffett called God of investmentBerkshire · Hathaway, And investment banks etc.JP Morgan ChaseAnnounced jointly to launch a new health insurance plan for each employee. In the meantime, the three companies will provide a variety of medical and healthcare services for employees and their families.

Amazon and Warren Buffett to create 'reasonable cost' healthcare company | Technology | The Guardian
https://www.theguardian.com/technology/2018/jan/30/amazon-warren-buffett-jp-morgan-healthcare

Amazon, Berkshire, JPMorgan Link Up to Form New Health - Care Company - Bloomberg
https://www.bloomberg.com/news/articles/2018-01-30/amazon-berkshire-jpmorgan-to-set-up-a-health-company-for-staff

Mr. Bezos was known to have had an interest in advancing medical and healthcare fields so far, but it is surprisingly accepted this announcement that we will work with Berkshire Hathaway and JP Morgan It is done. The three companies will jointly establish a healthcare company for a total of 1 million people in the US domestic employees. For the time being, the target is in a limited state, but from the perspective of the industry stakeholders, it is no doubt that the three companies are considering offering services for the general public for the future, · There is no doubt that existing companies that provided insurance services need to take some measures.

According to the announced content, the three companies are aiming to establish "a company that has been released from norms and restrictions for pursuit of profits". In other words, unlike general insurance companies, it is said that it is the feature of the new company that it is possible to provide employees with services based on long-term plans by being released from the need to pursue profits is.

The stock market is sensitive to this movement, and stock prices such as "Express Scripts Holding Co.," which carries out integrated pharmacy network business and "CVS Health" which operates the largest drugstore chain in the United States, decline I am showing movement.


It is said that the establishment of a new company by three companies is still in the initial planning stage, the details have not yet been announced. Mr. Buffett said in a statement: "Expanding healthcare costs are exacerbating the American economy, our group does not bring answers to it, but we do not intend to accept that phenomena as unavoidable. Rather, by consolidating the three talented personnel resources, we will eventually introduce a scalpel to raise the healthcare related costs and at the same time bring patient satisfaction and results. "

Also, JP Morgan Chase's CEO Jamie Dimon said, "Our goal is to create solutions that will benefit American workers and their families, and eventually all Americans," three companies It seems that there is no doubt that it not only provides services directed towards the group but also develops to services targeting the entire American citizen.