In what was a disturbing interview on PBS NewsHour between Judy Woodruff and Larry Merlo (CVS CEO), Judy pressed Merlo several times about how the merger will benefit individuals. Continually, Merlo ducked that specific question by advocating better procedures, better integration of services and a number of platitudes all of which reflect a larger corporate-driven control of market, profits by collusion and most disturbingly, the point Merlo ducked, was quality control of corporate costs by managing patients directly.
This is an article/video that is very important for the reader to read/watch. It speaks clearly to the control factor that large data clouds and massive records of daily life are being integrated for corporate benefit, not for personal benefit. Go to:
https://www.pbs.org/newshour/health/what-the-cvs-aetna-merger-could-mean-for-you
The reader may recall a recent post in which mariner mentioned John Hancock converting it policies to a program called “interactive policies” where insured will be screened and if selected, must participate in the interactive program.
John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday.
The move by the 156-year-old insurer, owned by Canada’s Manulife Financial, marks a major shift for the company, which unveiled its first interactive life insurance policy in 2015. It is now applying the model across all of it’s life coverage.
It works like this:
Policyholders score premium discounts for hitting exercise targets tracked on wearable devices such as a Fitbit or Apple Watch and get gift cards for retail stores and other perks by logging their workouts and healthy food purchases in an app. In theory, everybody wins, as policyholders are incentivized to adopt healthy habits and insurance companies collect more premiums and pay less in claims if customers live longer.
Privacy and consumer advocates have raised questions about whether insurers may eventually use data to select the most profitable customers, while hiking rates or not accepting those who do not participate.
Hancock says customers do not have to log their activities to get coverage even though their policies are packaged with the Vitality program. The insurer will begin converting existing life insurance policies to Vitality in 2019, it said.
As mariner understands it, your insurance company knows if you eat three strips of bacon instead of one or skip a morning run when Grandma visits and will have the right to raise your premium or even drop you for someone else who helps the company’s profit margin. As regular readers know, mariner is extremely sensitive to corporations telling him what to eat, know, or do with his life – especially if it is for the benefit of the corporation.
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To wax philosophically for a moment and promising not to be verbose, we are watching capitalism leverage a changing technological society for profit. The way to tell the difference between capitalism and other isms is that the wellbeing and advantage in other isms is driven by the individual or by government in the individual’s behalf – not using the individual foremost as a controlled instrument for profit. If there is no profit in an individual, buzz off. Who cares?
The beginning of this post mentioned the merger of CVS and Aetna. Leverage gained will be through combined databases about customers. Then, just like the book 1984, the customer will have to do what the corporation says to do – which cuts overhead and locks in pharmacy prices based on each individual’s profit value instead of what the market in general will bear.
And to top it off, one’s life is not managed by one’s own decisions.
More disturbingly, these corporate controls smell of Harari Yuval’s belief that in the future unwanted humans will not be cared for by society. Is the future now?
Ancient Mariner