They said they couldn’t lose. With the combined purchasing power of their three companies, the right motivation, a highly visible CEO and money to make it happen, Haven is a not-for-profit, healthcare-focused entity created to reshape health care. Instead, its shape has been affected by changes of its own. Jeff Bezos of Amazon, Warren Buffet of Berkshire Hathaway and Jamie Dimon of JPMorgan Chase all started Haven in January 2018, determined to find a way to control the runaway costs of health care. In June 2018, Atul Gawande, a renowned surgeon and professor at Harvard University, was appointed as chief executive officer of Haven Healthcare. There was no way this could miss. Even when they formed the company, the share price of health insurance companies and pharmacy benefit managers across the industry dropped.
On May 13, however, Dr. Gawande resigned abruptly, though oddly stayed on as Chairman, while another top executive left after just eight months. This amid the fact that no one has really heard how Haven is going to make the impact it promised. So far, since launching its first health insurance plans in November, it has given 30,000 JPMorgan employees access to plans operated by Cigna and Aetna for 2020. Those plans are designed to inform employees about the true costs of care and services in order to bring costs down. Not exactly as earth-shaking as promised.