Bezos, Buffett, and Dimon Have Failed with The Haven Project

Amazon, Berkshire Hathaway, and JPMorgan want to revolutionize the health care of their employees with joint forces. Three years later they have to discontinue their project “Haven”. This may leave the US healthcare system expensive and inefficient indefinitely.

Just three years after it gets started, the online giant Amazon, the holding company Berkshire Hathaway and the major bank JPMorgan are giving up their joint project to reduce healthcare costs for their US employees. The non-profit organization Haven announced on its website that the ambitious project will be discontinued at the end of February.

Haven did not provide any further information about the reasons

The failure of Haven is seen as a defeat for the three big US companies to face the problems of the health care system in the largest economy in the world. Haven did not provide any further information about the reasons. It simply said that companies “will continue to cooperate informally to develop programs that are tailored to the specific needs of their own employees”.

“We are proud of the progress the Haven team has made in researching a wide range of healthcare solutions,” said Jamie Dimon, managing director of JPMorgan Chase, in a message to employees.

The three US companies announced in January 2018 that they would create a not-for-profit health project with Haven in order to “provide US employees and their families with simplified, high-quality and transparent health care at reasonable costs.” CEOs Jamie Dimon, Jeff Bezos, and Warren Buffett wanted to break new ground in the healthcare industry by leveraging the companies’ combined data, technology, purchasing power, and customer engagements to improve care while reducing costs.

The US health care system is one of the most expensive and inefficient in the world

At the time it was said that at least a million workers could benefit from the project. “Rising health care costs are eating their way through the US economy like a tapeworm,” Buffett said at the time.

The US health care system is one of the most expensive and inefficient in the world and has always posed challenges to employees and employers: The US is the only industrial nation in the world that does not offer its citizens comprehensive health insurance.

Bezos, Buffett, and Dimon Have Failed with Haven Project

You may also like: