(Newswire.net — February 7, 2018) — With the planned healthcare initiative by three influential companies- Amazon, Berkshire Hathaway, and JP Morgan, health insurance could be altered for local cities like Fort Worth, Texas.
Fort Worth health insurance consumers may have more options in the future if three business giants have their way. Amazon, Berkshire Hathaway, and JPMorgan Chase announced earlier this month they would create an independent health care company for their employees throughout the United States.
Although this initial venture would only apply to employees for these three organizations, other companies may begin to use this model as well, assuming it becomes successful. No details have been disclosed as to what specifically the healthcare alliance will entail. The program may provide local physician identification, guide employees to online medical advice, and leverage their organizational strength to negotiate lower prices for drugs and medical procedures.
Many American businesses, including those providing Fort Worth health insurance, have struggled with meeting the healthcare needs of their workforce during rapidly rising costs of medical treatments. Health insurance has also become increasingly difficult for employees to navigate with doctors, hospitals, insurers and pharmaceutical companies all involved in the distribution process. Currently, approximately 151 million Americans receive employer-provided health insurance. The Affordable Care Act (ACA) does provide health insurance for tens of millions of Americans who do not receive their insurance through their place of employment. This new venture aims to streamline the process while providing quality healthcare.
With the announcement, stock prices for insurers and other major health companies fell. Amazon, the online retail giant; Berkshire Hathaway, the holding company led by the billionaire investor Warren E. Buffett; and JPMorgan Chase, the largest bank in the United States are financially influential organizations that have shaken up their respective industries. They immediately sent a clear message that the healthcare industry may be fundamentally transformed for all involved.
The companies have emphasized that the initiative would be “free from profit-making incentives and constraints.” It’s unclear at this point whether this would be a nonprofit business model.
Jeff Bezos, Amazon’s founder and chief executive, stated, “Hard as it might be, reducing health care’s burden on the economy while improving outcomes for employees and their families would be worth the effort.”
A spokesperson for Insurance4Dallas, a Fort worth health insurance agent, believes this is a positive development. “Successful companies disrupt and innovate. Health insurance is ripe for change which will ultimately benefit more people in local markets like Fort Worth”.
Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies.