As employers across the country weigh the cost of covering GLP-1 medications for obesity, Bank of America is taking a different approach: keep providing access, work to bring costs down and view obesity treatment as an investment in employees.

The Obesity Action Coalition (OAC) applauds that approach. Bank of America CEO Brian Moynihan recently told CNBC that the company spends more than $250 million each year providing GLP-1 medications for its employees. While acknowledging the significant cost, Moynihan described the coverage as a “good investment” because of the potential short- and long-term health benefits for employees.

Using Size to Manage Cost, Not Eliminate Care

There is no question that employers are facing rising healthcare and prescription drug costs. Bank of America is, too.

But rather than responding by simply removing GLP-1 coverage for obesity, the company is using another tool available to it: its purchasing power.

With approximately 211,000 employees, Bank of America has significant leverage to negotiate with pharmaceutical manufacturers and pharmacy benefit managers to lower costs. Moynihan made clear that the company is actively pushing for better prices while maintaining access for employees.

Large employers have a unique ability to influence the healthcare marketplace, and OAC believes that power should be used to help make treatment more affordable and accessible.

Not every employer has the size or negotiating leverage of Bank of America. But the broader principle still matters: Before eliminating obesity treatment, employers should fully explore strategies to manage costs while protecting access to care.

Looking Beyond the Next Benefits Cycle

Bank of America’s approach also recognizes something that can easily be lost in conversations about healthcare spending: The value of treatment is not measured only by an immediate return on investment.

Moynihan acknowledged that some employees receiving treatment today may eventually leave Bank of America before the company sees every potential long-term financial benefit associated with improved health. The company still believes providing the benefit is worthwhile.

That is an important example of putting employee health at the center of benefits decisions. Employees should not have to spend decades with the same company for their healthcare needs to be considered worth supporting.

Obesity is a complex, chronic disease that requires individualized, science-based care. For some people, that care may include FDA-approved medications. Access to appropriate treatment can support health today while also helping reduce health risks over time.

A Model Worth Paying Attention To

Employers have difficult decisions to make as healthcare costs continue to rise. OAC recognizes those challenges.

But controlling costs and providing obesity care do not have to be opposing goals.

Bank of America is demonstrating that an employer can acknowledge the significant cost of GLP-1 medications, negotiate aggressively for better pricing and still conclude that providing employees access to treatment is the right investment.

We applaud Bank of America for recognizing the value of obesity care. People living with obesity deserve access to appropriate, science-based treatment just as people living with other chronic diseases do. Bank of America’s decision shows that employers can be part of making that access possible.