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Why Apple Wants to Bring Their Watch to Medicare Advantage Users

Apple has approached at least three private Medicare plan providers. But, it isn’t the iPhone the company wants the nearly 19 million private Medicare Advantage users to put in their pocket.

Instead, Apple wants Medicare Advantage users to put their iWatch on their wrists.

Apple, the favored technology brand for every generation, is now targeting the senior market. More specifically, Apple is zeroing in on individuals over the age of 65 who have, or will, purchase a Medicare Advantage plan.

The Medicare Advantage marketplace is massive with more than $350 billion in revenues annually. Apple may have just found a way to get their small slice of this growing and fruitful pie.

A Win for Apple

Apple has been working tirelessly to keep ahead of competitors in the smartwatch space. With a price point of $399 for their newest iWatch version, challengers such as Fitbit are constantly on their heels with lower priced units.

To stay ahead, the company has hired 40 physicians to take a deep dive into the merging of wearable technology with the healthcare industry. The health of society as a whole has become a part of CEO Tim Cook’s greater vision.

While a healthy tomorrow is a noble goal, let us not forget Apple does have an obligation to its shareholders. To that end, if Apple can strike a deal with Medicare Advantage providers in subsidizing their product, the company’s push for a healthier society will result in one valuable byproduct – profits.

A Win for Medicare Advantage Plan Providers

It can be argued competition for companies selling Medicare Advantage plans is steeper than that faced by Apple. After all, the plans are commodities for all practical purposes.

Introducing a way to attract new customers by offering an iWatch at a reduced price is definitely one way to increase market share. However, the biggest payoff may come from the data collected by the wearable health monitor.

With a built-in electrocardiogram and other bioindicators, the wearable device can monitor an individual’s vital statistics. As an “intelligent health guardian,” the watch is positioned to help reduce emergency room visits. Fewer visits mean lower costs of care and lower premiums, ultimately making the specific plans more competitive.

A Win for Medicare Recipients

The real winner in Apple’s push to strap iWatches on today’s seniors might be the Medicare Advantage plan members themselves. The ability to alert individuals of a potential cardiac event is a powerful incentive to wear one. However, the softer benefits may prove more impactful.

Having a constant reminder of where your health is today can be a strong incentive to improve it for tomorrow. Step counters, workout routines, and even peer competitions encourage watch owners to better themselves on a regular basis. With enough encouragement and positive physical activity, the iWatch may never need to alert someone of a medical emergency, but the comfort is knowing it’s there if it needs to.

To learn more about Medicare Advantage plan options, contact the experts at at (877) 829-1109. Our licensed insurance experts will be happy to answer any questions you have.