CNBC: Amazon, Berkshire Hathaway, and JPMorgan Chase to partner on US employee health care

[NightFox]

Source: CNBC.COM

Amazon, Berkshire and JPMorgan Chase to team in landmark new health care company

"Amazon, Berkshire Hathaway, and JPMorgan Chase on Tuesday announced a partnership to cut health-care costs and improve services for their U.S. employees. The announcement slammed the shares of multiple companies in the health-care sector.

The giant companies, which together employ more than 1.1 million workers, will launch an independent operation that's intended to be free from profit-making incentives.

The new company's goal at first will be to target technology solutions to simplify the health-care system.


Details of the new company were sketchy, with principals of Amazon, Berkshire and J.P. Morgan noting that the way it will work remains to be seen. They're hoping that their sheer size will help bring the necessary scale and resources to tackle the issue.

"The ballooning costs of healthcare act as a hungry tapeworm on the American economy," Berkshire CEO Warren Buffett said in a statement. "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."

Props to Bezos, Buffet and Dimon, great idea and best of luck on this new venture.

Yet another example of how government fucks up everything it puts its grubby paws on and how entrepreneurs NOT politicians and bureaucrats are the best people to come up with solutions.

 

[ShootSpeeders]

This is BS. The answer to health care is to end health insurance..Three good things happen when people pay for their own health care..

1. People take better care of themselves and when sick they doctor themselves

2. People haggle over prices

3. There is no fraud.

 

[NightFox]

This is BS. The answer to health care is to end health insurance..Three good things happen when people pay for their own health care..

1. People take better care of themselves and when sick they doctor themselves

2. People haggle over prices

3. There is no fraud.

Er um... if you read what they're proposing you'll notice that is exactly what they're proposing; these three companies are looking to build their own health care organization for their U.S. Employees and fund it internally, that gives them control over costs since they can optimize delivery efficiency and combat fraud without paying for all the administrative overhead of an external insurer, the employees pay their own costs due to the fact that health care services are part of their compensation and that compensation is directly tied to the bottom line success of their employer.

 

[ShootSpeeders]

Er um... if you read what they're proposing you'll notice that is exactly what they're proposing; these three companies are looking to build their own health care organization for their U.S. Employees and fund it internally, that gives them control over costs since they can optimize delivery efficiency and combat fraud without paying for all the administrative overhead of an external insurer, the employees pay their own costs due to the fact that health care services are part of their compensation and that compensation is directly tied to the bottom line success of their employer.

Nothing new about that. Many many large companies are self-insured and have been for decades. But that's just a different type of health insurance and i'm talking about getting rid of heath insurance . We need a system where people pay directly for their own medical bills. 60 years most americans did that.

 

[NightFox]

Er um... if you read what they're proposing you'll notice that is exactly what they're proposing; these three companies are looking to build their own health care organization for their U.S. Employees and fund it internally, that gives them control over costs since they can optimize delivery efficiency and combat fraud without paying for all the administrative overhead of an external insurer, the employees pay their own costs due to the fact that health care services are part of their compensation and that compensation is directly tied to the bottom line success of their employer.

Nothing new about that. Many many large companies are self-insured and have been for decades. But that's just a different type of health insurance and i'm talking about getting rid of heath insurance . We need a system where people pay directly for their own medical bills. 60 years most americans did that.

You're not looking at the big picture, which isn't self insurance, it's a health care cooperative for provisioning of primary care (and pharma), effectively a private health care system for their employees. This isn't a new idea, it's been tried and for various reason didn't work out BUT in this case you have the ultimate market disruptor (Bezos) teaming up with the greatest investor of our time (Buffet) and one of the best financial deal makers around (Dimon) working on solving the problems that have been uncovered with employer cooperatives. If they can succeed (and I personally believe they can), then they'll offer a model of employer health care that isn't subject to wealth redistribution efforts from Washington and offers potentially enormous cost savings for employers.

 

[ShootSpeeders]

You're not looking at the big picture, which isn't self insurance, it's a health care cooperative for provisioning of primary care (and pharma), effectively a private health care system for their employees. This isn't a new idea, it's been tried and for various reason didn't work out BUT in this case you have the ultimate market disruptor (Bezos) teaming up with the greatest investor of our time (Buffet) and one of the best financial deal makers around (Dimon) working on solving the problems that have been uncovered with employer cooperatives. If they can succeed (and I personally believe they can), then they'll offer a model of employer health care that isn't subject to wealth redistribution efforts from Washington and offers potentially enormous cost savings for employers.

HAHAHAHA. Bezos, Buffet, and Dimon are gangsters. Whatever they come up with will hurt america.

 

[NightFox]

You're not looking at the big picture, which isn't self insurance, it's a health care cooperative for provisioning of primary care (and pharma), effectively a private health care system for their employees. This isn't a new idea, it's been tried and for various reason didn't work out BUT in this case you have the ultimate market disruptor (Bezos) teaming up with the greatest investor of our time (Buffet) and one of the best financial deal makers around (Dimon) working on solving the problems that have been uncovered with employer cooperatives. If they can succeed (and I personally believe they can), then they'll offer a model of employer health care that isn't subject to wealth redistribution efforts from Washington and offers potentially enormous cost savings for employers.

HAHAHAHA. Bezos, Buffet, and Dimon are gangsters. Whatever they come up with will hurt america.

LOL, why do you hate entrepreneurs and free enterprise? Perhaps you prefer the way things are run by politicians and government bureaucrats?