Amazon, JPMorgan and Berkshire Hathaway team up on healthcare for their employees

[UNCjigga]

Disrupt much? News of this move sent health insurer stocks tumbling and helped drive the nearly 400 point drop today. It's still unclear what services this new entity will provide, but you can imagine Berkshire creating an insurance product, Amazon aggressively negotiating prices with providers and pharma, and JPM financing the venture. All three companies have expressed frustration with changes to plans and coverage every year, and want to take back control. It would be interesting to see what solutions they can come up with and what impact they will have on the marketplace. If successful, I'd expect other large companies to join in.

https://nyti.ms/2GuXbBp

 

[JSt0rm]

good.

 

[theeedude]

Nice, Amazon doesn't mess around.

 

[Puffnstuff]

Jeff likes to cut margins to the bone so I'll be watching this with interest.

 

[Ventanni]

I'm very excited to see what these giants could do for healthcare, but I've long said that American healthcare costs will only drop when we start changing our lifestyle and dietary habits. The number one killer of Americans is heart disease, and it's almost entirely preventable with a change in diet and lifestyle. Add in the slew of other diseases that are caused by poor dietary and lifestyle habits, and you can see why the cost of healthcare is so high. I'm not saying any of this to shame anyone. I'm just being real with the reality of the choices we make. If you want lower health care costs, then cast your votes at the grocery store.

 

[brandonbull]

I'm very excited to see what these giants could do for healthcare, but I've long said that American healthcare costs will only drop when we start changing our lifestyle and dietary habits. The number one killer of Americans is heart disease, and it's almost entirely preventable with a change in diet and lifestyle. Add in the slew of other diseases that are caused by poor dietary and lifestyle habits, and you can see why the cost of healthcare is so high. I'm not saying any of this to shame anyone. I'm just being real with the reality of the choices we make. If you want lower health care costs, then cast your votes at the grocery store.

This won't happen until people stop worrying about beating up "Nazis", dressing up like vaginas or what bathroom someone can or cannot use.

 

[tommo123]

I'm very excited to see what these giants could do for healthcare, but I've long said that American healthcare costs will only drop when we start changing our lifestyle and dietary habits. The number one killer of Americans is heart disease, and it's almost entirely preventable with a change in diet and lifestyle. Add in the slew of other diseases that are caused by poor dietary and lifestyle habits, and you can see why the cost of healthcare is so high. I'm not saying any of this to shame anyone. I'm just being real with the reality of the choices we make. If you want lower health care costs, then cast your votes at the grocery store.

isn't it the case in the US that poor people can't afford healthy food? only junk food? although they could eat less junk food at least

 

[Genx87]

isn't it the case in the US that poor people can't afford healthy food? only junk food? although they could eat less junk food at least

Our food costs are among the lowest in the world. And we spend the lowest % of our expenditures on food in the world. Poor people can afford quality food. But it is easier to eat crap. A lot of grociers also accept WiC or other govt programs for payment.

 

[Chromagnus]

Super vague announcement, I was hoping for more details. I'll definitely be interested to see what they try and hope they can succeed in some way. It seems like a pretty long term move though since they haven't really started hiring anyone yet for this endeavor.

I'm a little skeptical that they will be able to really disrupt insurers. I think if they are able to do any serious disruption it will be somewhere else on the cost curve.

 

[Brainonska511]

This won't happen until people stop worrying about beating up "Nazis", dressing up like vaginas or what bathroom someone can or cannot use.

WTF is wrong with you?

 

[Brainonska511]

It could be good, but lots of people have made claims like this in the past, which amounted to a hill of beans. But they're welcome to try.

 

[Chromagnus]

WTF is wrong with you?

Don't feed the troll.

It could be good, but lots of people have made claims like this in the past, which amounted to a hill of beans. But they're welcome to try.

This is my perspective. I'm skeptical but hope they can pull it off.

 

[Guurn]

I get why they did this but it feels a little like having to shop at the company store. Are the employees free to choose other options?

 

[brandonbull]

WTF is wrong with you?

Are you serious?? If poor eating habits and lack of education around eating healthy foods, and increasing the general health of people in America got a fraction of media coverage and political attention that beating up Nazis, wearing vagina suits during marches, or telling people what bathrooms they can or can't use did, we might help people instead of dividing them.

 

[Thebobo]

This won't happen until people stop worrying about beating up "Nazis", dressing up like vaginas or what bathroom someone can or cannot use.

100% pure troll.

 

[SlowSpyder]

Look at capitalism work.

 

[Chromagnus]

I get why they did this but it feels a little like having to shop at the company store. Are the employees free to choose other options?

These companies are big enough that they are already self insuring anyway. Most mid-level and higher companies self insure and have third party administrators (TPAs) that handle the claims, care networks etc. Many companies already don't give a choice between choosing their TPA. You might get a choice on which deductible plan you select but that probably won't change either.

That being said, they haven't actually said what they are going to do. Maybe they are going to try and cut out their TPA and do it themselves or maybe they are going to try and get more involved in a different area because TPA's aren't what is driving costs up.

 

[Chromagnus]

Look at capitalism work.

It's a little early to claim that this has worked. I hope it does but we have seen plenty of people think they can fix healthcare and fall flat on their faces. I am really glad that people continue to try, but to claim that this has actually done any good yet is a little disingenuous.

 

[brandonbull]

100% pure troll.

TL;DR

 

[Puffnstuff]

100% pure troll.

He had me at his help people statement.

 

[UNCjigga]

This won't happen until people stop acting like fascists, dressing up like Nazis or worrying about which bathroom someone can or cannot use.

FTFY

 

[SlowSpyder]

It's a little early to claim that this has worked. I hope it does but we have seen plenty of people think they can fix healthcare and fall flat on their faces. I am really glad that people continue to try, but to claim that this has actually done any good yet is a little disingenuous.

Private companies are stepping up to offer options where there are holes to be filled. I too hope there are good options available to many, hoping this spurs competition in the insurance marketplace. The socialist ACA hasn't worked.

 

[theeedude]

Private companies are stepping up to offer options where there are holes to be filled. I too hope there are good options available to many, hoping this spurs competition in the insurance marketplace. The socialist ACA hasn't worked.

Socialist part of ACA, Medicaid expansion, is working fat better than the Conservative part of it, individual mandate.

 

[Chromagnus]

Private companies are stepping up to offer options where there are holes to be filled. I too hope there are good options available to many, hoping this spurs competition in the insurance marketplace. The socialist ACA hasn't worked.

Lack of competition in the insurance market place isn't why health insurance is expensive. Health insurance is expensive because health care is expensive. Hopefully AmazChaseHathaway can do something cool to help reduce the costs of care but that has yet to be seen. This will just be something interesting to monitor over the next five years.

 

[JSt0rm]

Are you serious?? If poor eating habits and lack of education around eating healthy foods, and increasing the general health of people in America got a fraction of media coverage and political attention that beating up Nazis, wearing vagina suits during marches, or telling people what bathrooms they can or can't use did, we might help people instead of dividing them.

On your deathbed you will regret wasting your life on this dumb shit.