U.S. Markets open in 3 hrs 36 mins
  • S&P Futures

    4,208.25
    -38.25 (-0.90%)
     
  • Dow Futures

    33,952.00
    -336.00 (-0.98%)
     
  • Nasdaq Futures

    13,867.75
    -162.50 (-1.16%)
     
  • Russell 2000 Futures

    2,296.60
    -19.10 (-0.82%)
     
  • Crude Oil

    72.00
    -0.12 (-0.17%)
     
  • Gold

    1,838.60
    -17.80 (-0.96%)
     
  • Silver

    27.48
    -0.21 (-0.77%)
     
  • EUR/USD

    1.2022
    -0.0111 (-0.9137%)
     
  • 10-Yr Bond

    1.5690
    0.0000 (0.00%)
     
  • Vix

    18.24
    +1.22 (+7.17%)
     
  • GBP/USD

    1.4009
    -0.0074 (-0.5239%)
     
  • USD/JPY

    110.4730
    +0.4390 (+0.3990%)
     
  • BTC-USD

    39,297.41
    -790.98 (-1.97%)
     
  • CMC Crypto 200

    974.23
    -18.24 (-1.84%)
     
  • FTSE 100

    7,184.95
    +12.47 (+0.17%)
     
  • Nikkei 225

    29,291.01
    -150.29 (-0.51%)
     

Health insurers fall after JPMorgan, Amazon, Berkshire team up

Shares of major U.S. health insurers were taking a hit Tuesday, reacting to the announcement from JPMorgan Chase (NYSE:JPM), Amazon (NASDAQ:AMZN) and Berkshire Hathaway (NYSE:BRK.A) that they are forming a partnership to address health care for their U.S. employees, with the goal of improving employee satisfaction while reducing costs.

The high cost of health care in the U.S. has long been a concern, with Berkshire Hathaway chairman and CEO Warren Buffet stating, “The ballooning costs of healthcare act as a hungry tapeworm on the American economy,” in the press release announcing the companies’ partnership.

U.S. per capita health care spending totaled $9,024 in 2014, according to the Peter G. Petersen Foundation, which is about double the average of other developed countries in the world.

Health care companies taking a big hit on the news include UnitedHealth Group (NYSE:UNH), Express Scripts (NASDAQ:ESRX) CVS Health (NYSE:CVS), Cigna (NYSE:CI), Anthem (NYSE:ANTM) and Humana (NYSE:HUM).

Related Articles