NewsLocal News

Actions

Berkshire Hathaway, Amazon, JP Morgan Chase to create nonprofit health care venture

Posted: 5:35 PM, Jan 31, 2018
Updated: 2018-02-01 00:20:35Z

Three of the biggest names in banking, investment, and e-commerce are coming together to tackle healthcare.

Berkshire Hathaway, Amazon, and JP Morgan Chase are all partnering on a nonprofit healthcare venture for their employees.

The three giants are aiming to reduce costs, increase transparency, and simplify the entire health care process.

According to a statement, the new entity will be "free from profit-making incentives and constraints."

Warren Buffett, CEO of Berkshire Hathaway, said the plan, now in its early stages, is to reduce the impact ballooning healthcare costs have on the economy.