Roger Fingas
Life insurance firm John Hancock will soon offer everyone in its Vitality program an Apple Watch Series 3 for $25 plus tax, with the caveat that they must engage in regular exercise over the next two years.
People can perform any kind of exercise, such as running or swimming, but must earn at least 500 fitness-based Vitality Points per month to avoid paying off the device in installments. Normally the Series 3 costs at least $329 for a 38-millimeter GPS model.
In fact Vitality members will get a GPS-only Watch by default, and have to pay extra to upgrade to LTE, different bands, and/or different case materials. People can also pick a Fitbit tracker in lieu of a Watch.
The Vitality program is designed to minimize John Hancock's payouts by offering perks for healthy behavior, including not just exercise but going to the doctor and buying healthy food. The catch, of course, is that the company monitors personal habits.
It has already been offering earlier models of the Watch to a limited subset of customers, but starting Nov. 6, the Series 3 will be available to all new and existing Vitality members.
Apple has been working with several insurance firms to increase the reach of the Watch. Earlier this summer, it reportedly had a series of meetings with Aetna, which could bring the device to its 23 million customers.
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9 Comments
This is what needed for single answer to healthcare crisis in USA and other country, rising healthcare cost. More people are forced to pay attention(you can't stop them eating unhealthy food) to their own health doing something through exercise using Apple watch is win-win for everyone(less burden on healthcare system,)
Great marketing all around!
Maybe.... Though I am not sure I like the idea of my insurance company monitoring my exercise and physical activity directly. I love the automation, but I think I'd rather keep it to myself. Sponsored by my health insurance company sounds a little bit creepy to me. No thank you.
As a healthy person I like this as it provides both carrot and stick for motivating healthy behavior.
But what are the implications for those with chronic conditions that limit their mobility? It seems unfair to them and it may discourage them from signing up if they see no monetary benefit. These are the people that need to be monitored closely, not by an insurance company but by a doctor. What incentives, other than staying alive, can be offered to those who are unable to qualify for the insurance company’s ‘healthy lifestyle’ requirements to get connected and monitored?
And then there are the flagrant abusers of their own bodies. It may seem self evident that people want to stay alive and will, therefore, do the common sense thing and get connected so their healthcare providers can monitor their health. But one look inside any clinic will tell you that’s just not the case as you will see people who willfully and repeatedly disregard their physician’s advice. Clearly, some other incentive is needed. Or maybe we just have to reconcile ourselves to the fact that some people just can’t be saved from themselves.