You Need to Wear Fitness Tracking Watches to Buy Health Insurance

[Ruprecht]

Well people don’t use them. Why should they pay for them? I worked with these people for almost 20 years and I’d say 1/4 of them actually using the devices is generous. You can find the machines on Craigslist and Facebook yard sale sites daily

The figures from resmed are significantly better than that, even for long term compliance.
That's just the start though, once insurance agencies can demand access to that sort of data before they'll insure people or pay, it's a real question of how far they'll take it (in terms of what information they'll demand, the IoT will create ludicrous amounts of data) and what sort of restrictions or oversight will come into play. Why would it even stop at sleep and fitness trackers? How long before "incentive" systems become mandatory across the board? The ability for totalitarian micromanagement will exist at a level that would make Lee Kuan Yew blush.

 

[Wet Blanket]

I’m waiting for car insurance companies to start using your vehicle gps data to raise your rates if you speed.

This exists already and measures hard braking, speeding, swerving, etc...

 

[Beechwood]

I wonder if any studies have been done with what the insurance company is asking? I've not seen any write ups on people that wear fitness watches being healthier and as a result going to the doctor and hospital less frequently. If it is true, and a fitness watch keeps the doctor away, I'd say sure, sounds like a good idea to require insurance buyers to have and use a fitness watch. I have my doubts though.

 

[Otto!]

This exists already and measures hard braking, speeding, swerving, etc...

Then i should get a discount!

 

[Wet Blanket]

Then i should get a discount!

There's a few companies that are using them in Canada and I believe they are all voluntary. I don't know anyone that has one so I haven't been able to compare rates.

 

[Otto!]

There's a few companies that are using them in Canada and I believe they are all voluntary. I don't know anyone that has one so I haven't been able to compare rates.

Thanks, i’ll check them out.

 

[cincymma79]

The figures from resmed are significantly better than that, even for long term compliance.
That's just the start though, once insurance agencies can demand access to that sort of data before they'll insure people or pay, it's a real question of how far they'll take it (in terms of what information they'll demand, the IoT will create ludicrous amounts of data) and what sort of restrictions or oversight will come into play. Why would it even stop at sleep and fitness trackers? How long before "incentive" systems become mandatory across the board? The ability for totalitarian micromanagement will exist at a level that would make Lee Kuan Yew blush.

The plan is required to have the Fitbit it doesn’t require you to have it if I read that right. I’m not sure about resmeds numbers. I know from trying to get people to wear them it’s damn near impossible. I am seeing a different population perhaps. I’m getting the ones who are qualifying to get machines. So they have to get through me to get their machine. In other words, the ones who refuse to wear it before they get set up for home machines.

 

[panamaican]

As long as it's not required, I don't see an issue with it.

Even if it was required, I wouldn't have much of an issue with it. I think that any private health insurance company worth its salt should be requiring it. It's just smart business.

 

[Ruprecht]

The plan is required to have the Fitbit it doesn’t require you to have it if I read that right. I’m not sure about resmeds numbers. I know from trying to get people to wear them it’s damn near impossible. I am seeing a different population perhaps. I’m getting the ones who are qualifying to get machines. So they have to get through me to get their machine. In other words, the ones who refuse to wear it before they get set up for home machines.

It's an incentive based system supposedly. Presumably certain performance metrics result in reduced premiums. That's why I mentioned the CPAP system, which already requires compliance for payouts. Given the escalation of health insurance premiums, I don't trust market competition to limit the data/compliance requirements.

 

[method115]

If it lets me pay way cheaper for insurance I'm for it. I workout 5 days a week and eat low carb all week so I'm good. No way I should be paying the same amount as someone my age who's overweight or doesn't workout at all.

 

[cincymma79]

It's an incentive based system supposedly. Presumably certain performance metrics result in reduced premiums. That's why I mentioned the CPAP system, which already requires compliance for payouts. Given the escalation of health insurance premiums, I don't trust market competition to limit the data/compliance requirements.

What’s wrong with incentivizing not being a fat ass which benefits both parties

 

[panamaican]

It's an incentive based system supposedly. Presumably certain performance metrics result in reduced premiums. That's why I mentioned the CPAP system, which already requires compliance for payouts. Given the escalation of health insurance premiums, I don't trust market competition to limit the data/compliance requirements.

They won't. And from a business perspective, they shouldn't.

On one hand I agree with you, this will only escalate and it's unlikely to stop with just health insurers. The thing that I think people might be overlooking is that nothing about this prevent the insurers from continuing to raise premiums and co-pays and whatever.

 

[Ruprecht]

What’s wrong with incentivizing not being a fat ass which benefits both parties

Like I said, it's the amount of data that will exist that they could effectively demand and the requirements they could effectively enforce. Micromanagement.

 

[cincymma79]

Like I said, it's the amount of data that will exist that they could effectively demand and the requirements they could effectively enforce. Micromanagement.

The way this will be gotten round is offering you discounts and having you sign a waiver you won’t read

 

[Bamboozled]

I remember when people liked their privacy and business was done in good faith which fostered good meaning transactions.

 

[nostradumbass]

Thread title says "health insurance", but story says it's life insurance.

Offering discounts and incentives for voluntarily logging info showing you're not a torpid disaster seems fine to me. The insurance is voluntary and so is logging activity data.

John Hancock said customers would not have to log their activities to qualify for coverage - but they would not benefit from the discounts if they chose not to.

 

[cincymma79]

I remember when people liked their privacy and business was done in good faith which fostered good meaning transactions.

I remember when people read the article being discussed before offering an opinion on it

 

[Ruprecht]

Thread title says "health insurance", but story says it's life insurance.

Offering discounts and incentives for voluntarily logging info showing you're not a torpid disaster seems fine to me. The insurance is voluntary and so is logging activity data.

No, the story says it's both.

 

[irish_thug]

I’m waiting for car insurance companies to start using your vehicle gps data to raise your rates if you speed.

There's already insurance companies that offer reductions if you install a monitoring device in your car.

 

[Bamboozled]

I remember when people read the article being discussed before offering an opinion on it

Me too, doesn't change micromanagement becoming a problem in business.

There's already insurance companies that offer reductions if you install a monitoring device in your car.

My brother has this, I was disgusted he agreed to it.