John Hancock was the first to sign the Declaration of Independence. His signature is bold and daring and announces to the world that he supports a new way for the future. So goes his namesake, The John Hancock Insurance Company.
In an unprecedented move, the insurance company is offering a financial discount to members in return for personal information. Not a survey asking the member's opinion or history, rather a way to monitor the subscriber's activities that affect their health and well being, John Hancock has partnered with Vitality, an employee wellness company, that will help them monitor and process personal information of members.
In addition to the discount, which can add up to thousands of dollars over a lifetime membershio, participants will be given a Fitbit. Wearing the fitbit will link the member with the company who can thentrack exercise activiity, blood pressure, doctor visits and on line educational courses taken to add points to the members profitle. Personal goals can be set and members can succeed or fail.
On the surface it sounds like a good idea, Don't we all need a little help keeping our New Year's resolutions to exercise more, eat better, live a healthier liefstyle? But should it really be our medical insurer doing it?
What if we don't hit our benchmark goals? Can they cancel our policy? Will they have access to our Electronic Health Record? Can they share the information with other companies, cancel our life insurance because we are living life in the fast lane? Willl there be a black list of names of people who are not good condidates for coverage?
Is this a great way to save 15% on our insurance and get a free Fitbit or is it an intrusive foray into our personal lives by a big brother who has a vested interest in our health and welllbeing?
In an unprecedented move, the insurance company is offering a financial discount to members in return for personal information. Not a survey asking the member's opinion or history, rather a way to monitor the subscriber's activities that affect their health and well being, John Hancock has partnered with Vitality, an employee wellness company, that will help them monitor and process personal information of members.
In addition to the discount, which can add up to thousands of dollars over a lifetime membershio, participants will be given a Fitbit. Wearing the fitbit will link the member with the company who can thentrack exercise activiity, blood pressure, doctor visits and on line educational courses taken to add points to the members profitle. Personal goals can be set and members can succeed or fail.
On the surface it sounds like a good idea, Don't we all need a little help keeping our New Year's resolutions to exercise more, eat better, live a healthier liefstyle? But should it really be our medical insurer doing it?
What if we don't hit our benchmark goals? Can they cancel our policy? Will they have access to our Electronic Health Record? Can they share the information with other companies, cancel our life insurance because we are living life in the fast lane? Willl there be a black list of names of people who are not good condidates for coverage?
Is this a great way to save 15% on our insurance and get a free Fitbit or is it an intrusive foray into our personal lives by a big brother who has a vested interest in our health and welllbeing?
A fascinating topic. I know that at least one auto insurer is offering discounts if you allow installation of a device in your car to monitor your driving habits. This is a bit more personal.
ReplyDeleteSaving $ is great but the idea of sharing "our" info with our insurers is not truly intended to help us, I fear, but rather to help the insurer.