JPMorgan Chase & Co. is taking another shot at trying to make health care less expensive for companies and better for workers in the U.S.
The largest U.S. bank is launching a business called Morgan Health aimed at improving employee benefits and promoting health equity, first for JPMorgan’s workers and then for other large companies.
With a $250 million investment arm and a remit to accelerate innovation in employer coverage, Morgan Health is a sign that large companies still want to influence a U.S. health-care system notorious for high costs and lagging outcomes.
Companies have a mixed track record in trying to tame health care costs and make benefits work better for their employees. The announcement follows the wind-down earlier this year of Haven, JPMorgan’s joint venture with Amazon.com Inc. and Berkshire Hathaway Inc. that sought to reinvent employer-based health care. Even with their economic might, the three companies were unable to generate much momentum to re-order health plans.
By John Tozzi
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