Leaders Weigh In on Nonprofit Initiative
In a joint press release, Amazon CEO Jeff Bezos, J.P. Morgan CEO Jamie Dimon and Buffett, chief executive of Berkshire Hathaway, said their three businesses would form a nonprofit company to seek “ways to address health care for their U.S. employees, with the aim of improving employee satisfaction and reducing costs.”
The venture is in its early planning stages, they said, with the initial formation Berkshire investment officer Todd Combs, J.P. Morgan managing director Marvelle Sullivan Berchtold and Beth Galetti, a senior vice president at Amazon.
The new company will focus first on “technology solutions that will provide U.S. employees and their families with simplified, high-quality and transparent health care at a reasonable cost.” The press release said a long-term management team, headquarters location and other details would be made public later.
Steve Goeser, CEO of Methodist Health System, said it’s a welcome effort, and other corporations, including Boeing and Lowe’s, are trying different approaches.