Insurer’s Incentive: Get Match, Get Paid a Buck a Day

A model new medical insurance coverage agency is hoping the Misfit will turn out to be a tremendous match for its enterprise, and get shoppers a bit extra wholesome inside the course of. New York-based insurer Oscar launched on Monday an incentive program that provides its shoppers a free Misfit wearable well being monitoring gadget, and as a lot as $20 per 30 days if these people hit positive goals based mostly totally on the number of strolling or working steps they take in sooner or later. "It’s a large carrot hanging in entrance of you," Oscar’s co-founder Mario Schlosser knowledgeable "The distinctive motivation was undoubtedly that we have to give people a nudge to stay healthful." As many as 20,000 Oscar shoppers shall be offered the prospect to acquire a Misfit app onto their smartphones which will monitor the gadget. After the Oscar-branded wristband is shipped and activated by the shopper, it then mechanically syncs to the app and the shopper’s insurance coverage protection plan account. Shoppers are awarded $1 per day — with a $20 month-to-month cap — within the occasion that they beat benchmarks determined by an algorithm. The award is loaded on an current card.


— Dan Mangan, CNBC

First revealed December eight 2014, 1:45 PM