Frenkel President Craig Hasday was recently quoted by Insurance Business America in an article highlighting Amazon’s arrival into the U.S. healthcare market, which the publication says is creating a divergence among insurers. Where some see a threat, others welcome the challenge.
“I think the unique skill sets and scale of the three consortium partners give this effort a high chance of success,” said Hasday. “Berkshire Hathaway’s insurance knowledge, Amazon’s distribution capabilities and JPMorgan Chase’s financial acumen are enhanced by the ability to avoid traditional state-based laws as self-insured employers.”
In the article, Craig goes on to explain, “Once they develop a transparent and efficient model, it will become easier to scale and expand their reach, first to other self-insured employers and then to the commercial insurance market. Eliminating the side-pocket profits and conflicts of interest in dispensing care will score immediate victories with very low-hanging fruit.”
To read the full article in Insurance Business America’s E-mag, click here and mouse over to pages 12-13.