Joint Venture To Lower Employee Healthcare Costs, Haven, Disbands

Haven, the joint venture healthcare company between three of America’s most powerful firms is disbanding after three years, according to CNBC. The partnership between Amazon, JPMorgan Chase, and Berkshire Hathaway set out to lower employer-sponsored health plan costs.

The healthcare company began informing employees Monday that it will be shut down by the end of February. As each firm continues the goal of affordable employer sponsored health plans, many of Haven’s 57 workers are expected to be placed at one of the three companies.

The announcement in 2018 that Amazon, Berkshire Hathaway, and JPMorgan Chase CEOs were teaming up to address rising costs of employer sponsored healthcare made waves in the industry. Health payer shares plummeted as investors feared the combined power of these leading technology and finance companies.

″The Haven team made good progress exploring a wide range of healthcare solutions, as well as piloting new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable,” Brooke Thurston, a spokeswoman for Haven, said in an email.

“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 our individual employee populations and locations,” she continued.