Although employers are the main source of insurance for many Americans, it has been difficult for them to galvanize and push for control of health care costs. The initiative of these three large employers puts a new stake in the ground; they’re now attacking health costs by putting their purchasing and political weight behind it. Employers, no matter their size, should start to embrace improved health care models, or it could be harder for them to compete down the road. Not only would employers begin to see healthier employees but they would also start to see a healthier ROI; Warren Buffett himself stated, “We want happier employees, better medical outcomes, and I do think at the end of the day that'll actually be cheaper.”

What’s at stake?
The way our country handles health care is unsustainable, and shake-ups like these are needed to make progress. By combining the strengths of what each company has already succeeded in – Amazon with the technology and distribution they are famous for, Berkshire Hathaway utilizing their risk-management experience and JPMorgan Chase with their knowledge of financing – these companies are equipped to develop a new model of health care that can be extended beyond their own employees.
There’s no doubt that fixing America’s health care system is complex, and certainly won’t happen overnight, but this partnership is a step in the right direction. Although there will likely be missteps along the way, health care companies would be smart to consider what this venture is doing as a catalyst for change, and act fast at making their own changes – or risk being left behind as competitors pass them by.

About the author: Chris Thurin is the regional managing principal for OneDigital

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