{"id":1830,"date":"2026-08-07T15:42:04","date_gmt":"2026-08-07T15:42:04","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=1830"},"modified":"2026-08-07T15:42:04","modified_gmt":"2026-08-07T15:42:04","slug":"bank-of-america-spends-250-million-a-year-on-weight-loss-drugs-for-staff-we-see-a-great-impact","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=1830","title":{"rendered":"Bank of America spends $250 million a year on weight loss drugs for staff: \u2018We see a great impact’"},"content":{"rendered":"

<\/p>\n

Weight-loss drugs are becoming a popular employee perk, with almost a third of workers saying they\u2019d switch jobs to get GLP-1 coverage. Now, Bank of America is spending $250 million or more yearly on the drugs for its staffers\u2014and CEO Brian Moynihan says the upsides are well-worth the eye-watering cost.\u00a0<\/p>\n

\n

\u201cWhat we see is a great impact on the employees,\u201d Moynihan recently said in an interview with CNBC<\/em>. \u201cWe\u2019ve always been about mental wellness, physical wellness.\u201d<\/p>\n

It\u2019s part of a wider $2 billion a year wellness packaged for employee healthcare at the $436 billion bank. Staffers may have to cover the premium or copay for their GLP-1s, but the Wall Street titan is picking up the rest of the bill, amounting to nearly a quarter of a million dollars annually. And Moynihan says the health investment is worth it to support a healthier workforce.\u00a0<\/p>\n

\u201cIt\u2019s lowering near-term incidents of heart issues for people taking, even if they don\u2019t have all the attributes,\u201d the CEO continued. \u201cThat\u2019s the payback.\u201d<\/p>\n

The chief executive even acknowledged that Bank of America may not fully realize all the long-term benefits. He noted that some Bank of America staffers on GLP-1s may not see the health upsides until later in life, years after they\u2019ve left the company, but he still believes in the investment.<\/p>\n

\u201cIt\u2019s the right thing to do for your teammates\u2026We do it because we want to be the great place to work,\u201d Moynihan said. \u201cIt\u2019s been fascinating to watch our teammates\u2019 behavior on these adjustments, the loss of weight. We monitor that, we give them coaches and everything, and so it\u2019s a good investment by us.\u201d<\/p>\n

Bank of America had no further comment to share with Fortune.<\/em><\/p>\n

Weight loss drugs are popular\u2014but 60% of firms only offer it for diabetes<\/h2>\n

In the past couple of years, weight loss drugs like Ozempic, Wegovy, and Zepbound have exploded on the wellness market.\u00a0<\/p>\n

Now, GLP-1s\u2014originally created to help manage blood sugar levels for people with type 2 diabetes\u2014have become a fixture of millions of Americans\u2019 lives. Around 11% of U.S. adults currently take GLP-1 medications for weight loss purposes, a stark jump from 3% just two years ago, according to a recent Gallup analysis. So companies are steadily expanding their health offerings to meet workers where they are.\u00a0<\/p>\n

While 60% of employers said they offer GLP-1 coverage for diabetes only, around 36% also cover it for both diabetes and weight loss purposes, according to a recent study from IFEBP.<\/p>\n

Earlier this year, consulting giant PwC announced it would no longer cover GLP-1s as an employee benefit for solely weight-loss purposes, blaming \u201crapidly rising costs.\u201d Instead, the company said it would continue to offer the drug \u201cwhen prescribed for conditions aligned with established standards of care, such as type 2 diabetes, but [they] will not be included under pharmacy coverage for weight management.\u201d\u00a0<\/p>\n

Companies are weighing the high costs of GLP-1 offerings for workers<\/h2>\n

GLP-1s are an increasingly sought-after benefit for talent; around 30% of workers even said they would switch jobs if that got them coverage for the drugs, according to a survey from insurance broker NFP.\u00a0<\/p>\n

And they\u2019ve gotten cheaper thanks to high demand, manufacturer price cuts, direct-to-consumer options, and new government programs. Now, a starting dose of Wegovy is available for just $149 a month, compared to $1,600 a month when it first launched in the U.S. in 2021. Or in the case of Amazon One Medical\u2019s GLP-1 management program, insured individuals can snag the weight-loss drugs for as low as $25 a month.\u00a0<\/p>\n

While the drugs have become cheaper, soaring demand and long-term use have put employers in a financial pickle.\u00a0<\/p>\n

Now, more than a quarter of large corporations are ramping up GLP-1 coverage criteria in 2026 or 2027, according to an analysis from Mercer earlier this year. Around 11% of these big employers have dropped\u2014or are planning to drop\u2014coverage of the drugs for weight-loss purposes this year or next.\u00a0<\/p>\n

Health services company Cigna stopped covering GLP-1 weight-loss drugs including Wegovy and Zepbound in its employee health plan this July. The company said it made the change \u201cas availability has increased and new options \u200bhave emerged,\u201d but maintained that staffers still have access to weight management programs and resources.\u00a0<\/p>\n

And HCA Healthcare, which employs hundreds of thousands of workers across its hospitals and medical centers, stopped covering the drugs for weight-loss this January after use of GLP-1s on its employee plan shot up 90% in 2025 alone. It still covers the drug for diabetes.\u00a0<\/p>\n<\/div>\n

#Bank #America #spends #million #year #weight #loss #drugs #staff #great #impact<\/p>\n","protected":false},"excerpt":{"rendered":"

Weight-loss drugs are becoming… <\/p>\n","protected":false},"author":1,"featured_media":1831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1177,1982,200,3631,920,3632,1405,3633,3499,3634,1031,3635,574,3636,886,1451,537,3552,2679,3637,673,3550,3638,3639,1981,3566,3645,2835,3565,650,3640,3551,3641,3642,2680,3643,530,3644,85],"class_list":["post-1830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-america","tag-and-wellness","tag-bank","tag-bank-of-america","tag-benefits","tag-brian-moynihan","tag-chief-executive-officer-ceo","tag-cigna","tag-drugs","tag-eli-lilly","tag-fitness","tag-glp-1s","tag-great","tag-hca-healthcare","tag-health","tag-impact","tag-jobs","tag-loss","tag-management","tag-medical","tag-million","tag-novo-nordisk","tag-ozempic","tag-perks","tag-personal-health","tag-retention","tag-spends","tag-staff","tag-talent-acquisition","tag-u-s-workers","tag-wegovy","tag-weight","tag-weight-loss","tag-weight-loss-and-diet-control-industry","tag-well-being","tag-worker-benefits","tag-workers","tag-workplace-wellness","tag-year"],"yoast_head":"\nBank of America spends $250 million a year on weight loss drugs for staff: \u2018We see a great impact' - 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