Bank of America spends more than $250 million on GLP-1s

Aug 06, 2026 01:13 AM - 2 hours ago 4

Brian Moynihan sits successful a tv workplace wearing a acheronian suit and purple tie.

Weight-loss drugs are costing Bank of America much than a 4th of a cardinal dollars a year.

CEO Brian Moynihan said that the much than $250 cardinal is simply a worthwhile finance successful benefits for his much than 210,000 employees.

"We spot a awesome effect connected employees," he told CNBC connected Wednesday astatine the Aspen Economic Strategy Group yearly meeting, noting that the slope has different wellness initiatives. The firm's yearly healthcare fund is astir $2 billion.

As Moynihan sees it, the payoff is successful short- and semipermanent wellness benefits, for illustration a reduced consequence of bosom disease. He said that though immoderate group mightiness time off Bank of America earlier benefiting from the medication, "it's still the correct point to do." The firm, he added, is moving to get the narcotics arsenic cheaply arsenic possible, particularly now that the medicine is disposable arsenic pills.

Not each employers person adopted the aforesaid strategy. Only 36% of companies screen GLP-1 costs for glucosuria and weight loss, according to a 2026 study from the International Foundation of Employee Benefit Plans. Some large employers, including PwC, person reportedly stopped covering the narcotics for weight loss.

Yet GLP-1s are transforming much than firm budgets. Business Insider's Juliana Kaplan precocious reported connected really employers are grappling pinch request for GLP-1s, arsenic good arsenic the HR nightmares arising from the drug's prevalence among employees. Some Americans who trust connected the narcotics person struggled to salary aft changes successful their insurance, creating a precarious balancing enactment betwixt financial and beingness health.

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