JPMorgan’s Dimon Says Employee Health Costs to Rise 10% in 2026

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he expects the bank’s health costs to rise 10% next year, a sign of how employers are grappling with higher spending on medical services and prescription drugs.

The biggest US bank already spends about $3 billion per year on employee medical costs, Dimon said Tuesday during a third-quarter earnings call.

“We think it actually might be up another 10% in 2027 for a whole bunch of different reasons,” Dimon said on the call, without elaborating.

The cost of health plans maintained by employers is expected to grow 8.5% next ...