00:00Bank of America says it's now spending more than $250 million each year to provide GLP-1
00:06medications for employees, making the drugs one of its fastest-growing health care expenses.
00:12CEO Brian Moynihan defended the investment, arguing the medications can improve long-term
00:17health and lower future medical costs, despite their hefty price tag. The spending comes from
00:23the bank's roughly $2 billion annual health care budget and reflects the growing demand for drugs
00:29like Ozempic and Bugovi. As more employers weigh the costs of covering GLP-1 treatments,
00:34Bank of America is taking one of the industry's most expansive approaches.
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