An announcement Tuesday morning that three of the richest, most powerful companies in the United States are launching a new effort to break the health insurance industry’s stranglehold on the economy was greeted with great excitement.
The new firm is the brainchild of Berkshire Hathaway tycoon Warren Buffett, JPMorgan CEO Jamie Dimon, and Amazon founder Jeff Bezos. Their goal is to break the age-old cycle of ever-rising health care costs in the United States, where people pay more t...