Bank of America maintains GLP-1 coverage for obesity

Bank of America is maintaining coverage for GLP-1 receptor agonists for obesity, a trend that contrasts with many other large employers. The company spends approximately $250 million annually on these medications, which accounts for more than 12% of its total $2 billion healthcare budget.

While GLP-1 medications are increasingly used for conditions such as diabetes, cardiovascular risk reduction, and sleep apnea, many commercial payers and employers are reducing coverage for their use in weight loss. Data indicates that the percentage of large employers offering these medications for obesity dropped from 72% in 2025 to 60% in 2026. A survey by the International Foundation of Employee Benefit Plans found that only 36% of U.S. businesses currently cover GLP-1s for weight loss, with 14% of employers planning to reduce or eliminate such coverage by 2027 to maintain financial viability.