Just a few weeks ago, Apple Inc. (NASDAQ: AAPL) has rolled out its Apple Watch Series 2 and it has already become sure that this newer version is more attractive compared to the initial smart watch. The Apple Watch 2 offers a faster processor, water-resistant design, swim tracker, and a GPS chip that can track runs. As fitness becomes a priority in the Apple Watch, a number of health insurers are becoming interested in the capability of the smart watch to contribute to the general health and fitness of users.
One of the largest health insurance providers Aetna (NYSE: AET) stated on September 27 that they will be having a new program aimed at revolutionizing the health experience of members. The health insurance company announced that the plan integrates the power of the iOS applications of Apple and the unparalleled user experience of Apple devices, such as the Apple Watch, iPad and iPhone, with the analytics-based wellness management initiatives.
According to Aetna, starting this fall, it will make Apple’s smart watch available to select individual clients and huge employers during open enrollment season. The health insurance provider will be the very first major healthcare firm that will subsidize a huge portion of the Apple Watch cost. Aetna will offer monthly salary deductions that will make it easier for customers to pay the remaining cost. Aside from that, the company also pointed out that it will also offer the Apple Watch for free to its own employees. These 50,000 employees of Aetna will be part of the wellness reimbursement program that will encourage them to become more productive and live healthy lives.
The Chairman and CEO of Aetna Mr. Mark Bertolini stated, “We are incredibly excited to use iPhone, iPad, and Apple Watch to create simple, intuitive and personalized technology solutions that will transform the health and wellness experience for our members. This is only the beginning – we look forward to using these tools to improve health outcomes and help more people achieve more healthy days.”
This move by the health insurance firm came a day after Vitality, which is a British insurer, asserted that it will subsidize purchases of the smart watch for its clients as long as they earn the remainder of the buying price over a span of 24 months by reaching exercise goal. This subsidy would enable clients to buy an Apple Watch worth $480 for just $90.
We believe that this decision of Vitality and Aetna to promote Apple Watch for enhancing the general health and well-being could significantly boost the sales of the smart watch, primarily by enticing more organizations and individual customers to buy and use Apple’s smart watch.
As of 6:45 AM GMT -4 on October 7, the AAPL stock is changing hands at $113.89, up by 0.74 percent or 0.84 points.