Bank of America spends $250 million on GLP‑1 weight‑loss drugs for employees

Bank of America is allocating more than $250 million each year from its roughly $2 billion health‑care budget to cover GLP‑1 medications such as Ozempic, Wegovy and Zepbound for its 210,000‑plus staff. CEO Brian Moynihan told CNBC that the program aims to improve both short‑ and long‑term health, citing reduced heart‑disease risk and overall productivity gains, and said the investment remains worthwhile even if some employees leave before they benefit.

The bank also provides health monitoring and coaching for users of the drugs. While Bank of America continues the coverage, many other large employers have scaled back or eliminated GLP‑1 benefits because of rising costs. Industry data show only about 36 % of firms cover these drugs, and companies such as PwC, Cigna and HCA Healthcare have reduced support. Analysts note that the availability of such benefits can influence job decisions, with roughly 30 % of workers saying they might change employers for coverage, and usage of GLP‑1 drugs in the U.S. has risen from 3 % to 11 % of adults over the past two years.