They already are self-insured. What they are proposing/planning goes well beyond that by working together and leveraging the buying power of their workforces to drive and manage health care costs by removing all profit.
Amazon does this with a ton of its businesses today and there is no reason why it couldn't be successful with this when you're backed by essentially endless capital (Berkshire / JPMorgan). They could create their own fully vertically integrated not-for-profit health care group (i.e., hospitals, doctors, etc.) and by bring in other large workforces (i.e, consulting firms, Microsoft, etc.) they could drive costs lower leading to more and more Companies wanting to join the group. This could be massively disruptive especially when you remove the profit potential.
I wouldn't be betting against Bezos and Buffett although this will take years to create, develop, etc.
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