Image

7:34 PM / Thursday March 28, 2024

30 Jan 2018

Amazon, JPMorgan, Berkshire creating new health care company

  • Facebook
  • Twitter
January 30, 2018 Category: Health Posted by:
Photo: Shutterstock

The companies did not say whether the project would expand beyond Amazon, Berkshire or JP Morgan. However, JPMorgan Chase Chairman and CEO Jamie Dimon said, “our goal is to create solutions that benefit our U.S. employees, their families and, potentially, all Americans.”

Shares in health care companies took a big hit in early trading Tuesday, suggesting the threat of the new entity to how health care is paid for and delivered in the broader economy.

Any solutions the company devises would find a huge and receptive audience. With about 151 million non-elderly people, employer-sponsored coverage is the largest part of the U.S. health insurance market.

Companies get a tax break for offering health benefits to their workers, and many employers also see them as a critical tool for attracting and keeping workers. But costs are soaring and health care consumes a growing chunk of their budgets. Small businesses have been under particular strain.

Only 50 percent of companies with three to 49 employees offered coverage last year, according to the nonprofit Kaiser Family Foundation. That’s down from 66 percent more than a decade ago. The federal Affordable Care Act requires all companies with 50 or more full-time employees to offer it.

-AP

  • Facebook
  • Twitter

Leave a Comment

Recent News

Philly NAACP

March 24, 2024

March 17, 2024

Tweet Email Tweet Email Related Posts Philadelphia Judicial Primary Candidates At A Glance Guide Philadelphia Judicial Candidates...

Commentary

cj speaks…The call to order

March 23, 2024

Tweet Email Philadelphia’s recent travesties continue to be highlighted in the news: the ongoing shooting incidents, train...

Health

Combatting loneliness in older adults

March 17, 2024

Tweet Email FAMILY FEATURES The bonds found in friendships and other relationships are an important factor in...

Home and Garden

So, You want to build a retaining wall: 6 things to know before you start

March 3, 2024

Tweet Email BPT When you want to enhance your outdoor living space, consider building with retaining wall...

Fur Babies Rule!

Dog grooming advice to keep pets clean and healthy

March 2, 2024

Tweet Email FAMILY FEATURESRegular grooming can keep your dog looking and smelling his or her best, but...

Seniors

‘Soaring’ over hills or ‘playing’ with puppies, study finds seniors enjoy virtual reality

February 23, 2024

Tweet Email By Terry Spencerassociated press POMPANO BEACH, Fla. — Retired Army Col. Farrell Patrick taught computer...

The Philadelphia Sunday Sun Staff