Bank of America allocates over $250 million annually for GLP-1 weight loss drugs, CEO Brian Moynihan revealed, emphasizing the health benefits and long-term value for employees.

Employers have grappled with soaring demand for GLP-1 drugs such as Ozempic and Wegovy, which can cost thousands of dollars per patient annually.

CEO Brian Moynihan says GLP-1 medications now account for roughly 13% of the bank's total annual healthcare spending