According to new research by PruHealth, offering people cash incentives to improve their health could reduce the number of medical insurance claims by up to two thirds.
The research examined the number of claims made by members of its Vitality Wellness programme. It showed that policyholders over the age of 55 made just one third of the claims of those who were not part of the programme. Members of the scheme were also less likely to spend on medication, with those in the 55-65 age group spending 41% less than non-members.
Our view
Technically people get this with cheaper life, health and medical insurance as well as living longer. Perhaps, changing tack with reverse psychology and offering cash bonuses may be better.
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