Rocketing health care costs is not news.
What is news is that Amazon (AMZN) , Berkshire Hathaway (BRK.B) , and JPMorgan Chase (JPM) recently announced plans to create a new company that will cut health-care costs for their over one million employees.
And the new "company will be independent and "free from profit-making incentive," say the 3 CEOs.
"The ballooning costs of healthcare act as a hungry tapeworm on the American economy," Berkshire CEO Buffet said in a statement
U.S. health care spending is projected to grow by an average 5.6% annually over the next decade, according to the CMS.
And the some of the corresponding stats are just as staggering:
- Medical errors are the third-leading killer in the US, accounting for almost 10% of all American deaths, according to a study by Johns Hopkins.
- Obesity is a constant issue and those who are obese have medical costs that are $1,429 more than those of normal weight on average (roughly 42% higher), according to the HHS.
- Deaths from opioids have been rising sharply for years, and drug overdoses already kill more Americans under age 50 than anything else. And is expected to kill half a million people over next decade.
Watch our video for more scary numbers.
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