Bank of America chief executive Brian Moynihan has revealed that the company spends more than $250 million a year covering GLP-1 weight loss drugs for its employees, telling media channel CNBC that the rising cost was a worthwhile investment in his workforce. Overall, the bank, the US’s second largest lender, spends about $2 billion each year on healthcare for 211,000 employees, meaning that 12.5% of its health budget is spent on weight loss drugs. Bank of America pairs access to the drugs with health coaching to help monitor weight loss and lifestyle adjustments, the CEO said. “It’s been fascinating to watch our teammates’ behaviour on these adjustments – the loss of weight,” he said. In 2026, respondents to the IFEBP survey said the drugs accounted for 11.4% of annual claims, up from 6.9% in 2023.