Amazon, Berkshire and JP Morgan end Haven, their joint healthcare project

The Haven company was launched in 2018 at the initiative of Jamie Dimon (JP Morgan), Warren Buffett (Berkshire) and Jeff Bezos (Amazon). Supposed to offer an alternative system of health care coverage to employees of the three entities, it will close its doors in February.

The structure was created on the initiative of three big American bosses, Warren Buffett (Berkshire Hathaway), Jeff Bezos (Amazon) and Jamie Dimon (JP Morgan)

Difficult to move the lines of health insurance in the United States. Barack Obama had learned the hard way, he who had had to fight for several years to pass his reform – which the Republicans then tried to repeal by all means. Three of America’s biggest companies have failed. The leading bank in terms of assets JPMorgan Chase, e-commerce giant Amazon and Warren Buffett’s conglomerate Berkshire Hathaway have announced that they are abandoning plans for an alternative system of healthcare coverage for their employees.

Introduced with great fanfare three years ago, Haven sought to dramatically lower health care costs by pooling the resources of its shareholders. At the time of its launch, the three partners did not rule out extending their offer beyond their employees.

Haven said on its website, in a minimalist statement, that it would be shutting down its operations. ” end of February “. Its employees should be reassigned to each of the entities.

Making health affordable

The company claims to have, for three years, “Explored a wide range of solutions” and “Tested new ways to facilitate access to basic care, make insurance benefits easier to understand and use, and make drugs more affordable”.

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The three groups “Will harness this knowledge and continue to collaborate informally to design tailored programs to meet the specific needs of their own employees”, affirms the organization without giving details of the reasons for its dissolution. “Haven has worked at best as an incubator of ideas, a place to experiment, test and learn, and a way to share best practices between our companies,” explained Jamie Dimon, the boss of JP Morgan in a note. sent to its employees.

Haven would not have succeeded in unifying very complex and very different systems from one company to another. Each also had its own priorities. Amazon alone employs 1.1 million people, including 800,000 in the United States, out of a total of 1.5 million for the three companies. The structure would have, moreover, known a high turnover which would not have facilitated its operations.

Compensate for the end of Obamacare

Jamie Dimon (JP Morgan), Warren Buffett (Berkshire) and Jeff Bezos (Amazon), three of the most iconic American big bosses, had marked the spirits by launching this independent and non-profit company. They then proposed to join forces to create a social protection system responding to the attempts to dismantle the Obamacare health reform and the exploding health insurance costs.

“We want to change the experience people have of health, so that it is simpler, of better quality and less expensive”, explained in 2019 Dr. Atul Gawande, at the head of Haven.