The auto insurance industry has a rating system that offers safe drivers premium discounts. What if the health insurance industry implemented a rating system, similar to the auto insurance industry, where “healthy members” get premium discounts when the members demonstrate healthy behaviors? Some employers have adopted these financial incentives and their results demonstrate reduced employee health care spending after these programs are implemented.
My current auto insurance policy offers me discounts on my premium for:
- Save driver (accident free)
- Multi-car policy
- Good grades for teenage drivers in the household
- Anti-theft device installed in vehicle(s)
- Air bags installed in vehicle(s)
What if health insurance policies started offering premium discounts for behaviors like:
- Taking a health risk assessment
- Exercising on a daily basis
- Eating healthy
- Reducing weight
- Stop smoking
- Lowering blood pressure
- Lowering cholesterol
- Monitoring and follow-up on chronic diseases
As more consumers take personal responsibility for their own health, these kinds of tactics will become more common.