PUBLISHER: Allied Market Research | PRODUCT CODE: 1472380
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472380
Wellness activity-based health insurance refers to a type of health coverage that integrates wellness and preventive healthcare initiatives with traditional insurance offerings. This innovative approach incentivizes policyholders to adopt healthy behaviors and lifestyles by offering rewards, discounts, or other benefits for engaging in activities that promote overall well-being and reduce the risk of chronic diseases. In addition, it encourages individuals to take proactive steps towards improving their health and preventing illness rather than solely focusing on treatment after the fact. It emphasizes preventive measures such as regular exercise, healthy eating habits, stress management, and routine health screenings to maintain optimal health and well-being. Moreover, key components of wellness activity-based health insurance may include access to wellness programs, fitness tracking devices, nutrition counseling, mental health support services, and incentives for achieving health-related goals. These programs often leverage technology, such as wearable fitness trackers and mobile apps, to monitor and track policyholders' activities, progress, and health metrics in real time. The primary goal of wellness activity-based health insurance is to empower individuals to take control of their health outcomes and make informed decisions about their lifestyle choices. By encouraging healthy behaviors and providing support and resources to facilitate positive change, insurers aim to reduce healthcare costs associated with preventable diseases and improve overall population health. In addition to benefiting individuals, wellness activity-based health insurance can also yield positive outcomes for employers and healthcare providers. Employers may see improved employee productivity, reduced absenteeism, and lower healthcare costs associated with a healthier workforce. Healthcare providers may experience fewer hospital admissions, better patient outcomes, and enhanced patient engagement and satisfaction.
The increasing health awareness and wellness trends and the increase in advancements in wearable technology and health monitoring devices boost the growth of the global wellness and activity-based health insurance market. In addition, factors such as government support and regulatory initiatives have positively impacted the growth of the market. However, privacy and data security concerns and limited adoption among older populations are expected to hamper market growth. On the contrary, rising demand for personalized health and wellness solutions is expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the global wellness and activity-based health insurance market.
The global wellness and activity-based health insurance market is segmented by type, program, service provider, and region. In terms of type, the market is fragmented into individual plans and group plans. Depending on the program, it is bifurcated into fitness programs, and mental health and well-being programs. As per service provider, it is classified into insurance companies, healthcare providers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the global wellness and activity-based health insurance market are Anthem, Inc, Cigna Corporation, Aetna Inc, Humana Inc, and Kaiser Permanente, Blue Cross Blue Shield Association, Vitality Group, Oscar Health, United Health Group and Welltok, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)