This is interesting. Health care insurance is too expensive. The companies are pricing themselves out of business. There is no reason why large corporations such as these can't self-insure. They should.
Amazon had over a half of a million employees
JP Morgan Chase and Company has another quarter million employees
Berkshire Hathaway has over 350,000.
That is easily over a million people. I am confident the three corporations can find good health care options for their employees.
Illustrated in the graph above is the employee contribution for health care insurance. The wages are not keeping up with the cost of health care insurance subscription costs. While the country is looking toward increasing the minimum wage it only makes sense that prudent CEOs look to the final outcome for their employees as their wages increase.
I am not saying these companies pay minimum wage as Walmart does, but, just that as minimum wages increase other wages increase to keep pace with it. This decision is impressive and I look forward to hearing more about the final outcome and decisions.
January 30, 2018
By Mike Snider
The three companies announced Tuesday they are teaming up to explore "ways to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs," according to a news release about the venture.
An independent company, which "is free from profit-making incentives and constraints," they say, will initially tackle technological solutions to deliver "simplified, high-quality and transparent" health care to employees at a economical prices.
"Tackling the enormous challenges of healthcare and harnessing its full benefits are among the greatest issues facing society today," Jeff Bezos, Amazon's founder said in a statement. "By bringing together three of the world’s leading organizations into this new and innovative construct, the group hopes to draw on its combined capabilities and resources to take a fresh approach to these critical matters."...
