MainStreet Bank Chairman and CEO Jeff Dick was recently featured in an American Banker article on the implications of an alliance by JP Morgan Chase, Amazon, and Berkshire Hathaway to form an independent health care company for their U.S. employees. The article was published February 1, 2018.
MainStreet Bancshares in Fairfax, Va., participates in a medical coverage program offered by the Virginia Bankers Association, said Chairman and CEO Jeff Dick. The system has been helpful for the $705 million-asset bank, which has less than 100 employees.
Dick, however, was skeptical that anything immediate would come out of the Chase partnership, expressing a belief that it could take 18 months or more before something tangible surfaces. The effort also faces a highly regulated and archaic health care industry, where lobbyists might fight any disruption, he added.
Still, Dick applauded the venture’s long-term potential to create a more efficient health care system.
“If there’s anything that makes an inroad into that, it’s worth keeping an eye on,” Dick said.
Click to read the full story in American Banker (password-protected)