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The Sniff Test: Here’s what we actually know about the Amazon, Berkshire and J.P. Morgan health initiative (hint: very little)

A new health initiative from Amazon, Berkshire Hathaway and J.P. Morgan Chase & Co. announced on Tuesday was short on details but long on disruption, sending a wide range of industry stocks shuddering in morning trade.

The project is aimed at improving health care for the three companies’ employees in a more cost-effective way. The ensuing independent company will be “free from profit-making incentives and constraints,” the companies said, led by executives from each and focusing initially on technology solutions.

But the exact approach was left hazy, and comments from the leaders of the three companies suggested that they themselves weren’t quite sure what to expect yet.

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