Bank of America CEO reveals insane amount they spend on weight loss drugs for employees
Many employers provide health benefits to their employees, yet Bank of America has gone one step further and jumped on the GLP-1 train, offering weight loss jabs to all workers for free and spending an insane amount of money in the process.
There's no denying quite how popular weight loss drugs like Ozempic and Mounjaro have become in recent years, as they provide a fast and easy way for people to shed the pounds, often transforming their lives in the process.
These benefits aren't just observed on an individual level either, as companies are starting to view the long-term impacts as positive for the workplace — even if the process requires a lot of money to be effective.
As reported by CNBC, Bank of America CEO Brian Moynihan recently revealed that the leading financial institution is spending more than $250 million every single year on GLP-1 weight loss medications across the work force, but he claims that it's a 'good investment' overall.
Why is Bank of America spending so much on weight loss drugs?
This spending is 'only' 13% of Bank of America's total $2 billion budget for employee healthcare spending, but it shows both how expensive the treatments can be overall, and how many workers have taken up the CEO on his offer.
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It's particularly notable as this spending simply did not exist four or five years ago, yet its use has caused leadership to "see great impact on the employees," according to Moynihan.
Not only does the supply of weight loss drugs save employees money who might have otherwise sought it out themselves, but it reduces the risk of serious health complications in both the short- and long-term future.
Moynihan specifically points to recent research that connects GLP-1 treatments with a lower incidence of cardiovascular events, adding that "it's been fascinating to watch our teammates' behavior on these adjustments — the loss of weight."
What are the downsides to GLP-1 treatments?
It's not necessarily all good news for weight loss treatments, however, as while the benefits are clear to see you're almost just as likely to encounter a number of unpleasant side effects along the way.
In addition to the more immediate and closely connected symptoms of the treatment like vomiting and fatigue, people have also reported issues with bad breath — lovingly referred to as 'Ozempic Breath'.
This is due to the extended time that foot sits – and subsequently ferments – in your stomach after taking the treatments, causing the foul smell to work its way back up through your body and out of your mouth.
Plastic surgeons have also noted an increase of people looking for help dealing with 'Ozempic Skin', as skin can easily sag, appear more wrinkled, and even have an unpleasant texture after rapid weight loss from GLP-1 jabs.
Furthermore, hair loss has emerged as another potentially major side effect that's likely to turn people away from the medication, with an alarming of people running into issues with non-scarring alopecia in the short-term.
It's definitely worth researching the side effects and impacts of these treatments before signing up for weight loss jabs, as the balance of benefits to downsides might not be right for you, even if you're getting the subsidized by your work.