Details from the Announcement

Amazon, Berkshire Hathaway and JPMorgan Chase announced plans to form a partnership to find ways to address healthcare for their US employees. The goal is to improve employee satisfaction and reduce costs. The three companies will bring their scale and complementary expertise to this long-term effort and will pursue their objective through an independent company free of profitmaking incentives and constraints. The new company will focus on technology solutions that can provide the three partner companies’ US employees and their families with simplified, high-quality and transparent healthcare options at a reasonable cost. The effort is still in the early planning stages. The new company’s initial formation will be jointly spearheaded by an investment officer of Berkshire Hathaway, a managing director of JPMorgan Chase and a senior vice president at Amazon. The companies plan to announce the longer-term management team, headquarters location and key operational details in due course.