Haven, The Joint Venture created by Amazon, JP Morgan Chase and Berkshire Hathway to lower health care costs for their US employees will be dissolved exactly three years after its formation.
On January 2018, Berkshire Hathaway’s Warren Buffet, Amazon’s Jeff Bezos and the investment banking giant JP Morgan Chase announced the plan to create a nonprofit health care plan provide US employees and their families with simplified, high-quality and transparent health care at a reasonable cost.
Haven said on its website
“In the past three years, Haven explored a wide range of healthcare solutions, as well as piloted new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable,”
“Moving forward, Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally to design programs tailored to address the specific needs of their own employee populations,”
“Haven will end its independent operations at the end of February 2021.”
This announcement means the three major companies has admitted defeat in their attempt to address one of the longstanding problems for employees and employees in the world’s largest economy.
One of the main reasons for the disbandment is that each partner in the venture was trying to pursue their own strategic approach to their healthcare challenges.
Jamie Diamon the CEO of JP Morgan Chase said
“We’re proud of the progress the Haven team made exploring a wide range of healthcare solutions, including pilots at our company to make primary care easier to access and insurance benefits simpler to understand and easier to use.”
Meanwhile, Amazon has made progress on its own with its Amazon care program, which is an internal healthcare program for its employees.
Amazon Care includes provision of both virtual and in-person primary care doctor visits and prescription delivery.
