Though the news is a bit of a surprise, there were signs that the venture was not living up to the hype.
It was the venture set to reinvent employer-sponsored health care, even before it had a name. But Haven, the much-touted partnership between Amazon, JPMorgan Chase and Berkshire Hathaway, has announced it will be disbanding after only three years.
The Amazon trap Cigna, Aetna and others in the health care space would be well-served to look at what happened to Toys "R" Us or Borders not so long ago.
As reported by CNBC, the company will close its doors by the end of next month, with its 57 workers to be reassigned amongst the ranks of each of the three companies. The plan is to continue to push for health care reform on an individual level, with informal collaboration.
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Emily Payne
Emily Payne is director, content analytics for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
