Hopkins, Minn.-based UnitedHealthcare is now including the FitBit Charge 2 device in the UnitedHealthcare Motion's wellness program, according to Investopedia.
Here are four key points:
1. Through the deal, UnitedHealthcare Motion participants can use the device to earn up to $1,500 in Health Savings Account or Health Reimbursement Account credits annually.
2. Richard Migliori, MD, CMO of UnitedHealth Group, said employees that increase their activity from one third to two thirds can substantially lower total healthcare costs. UnitedHealthcare and FitBit pointed to a 2013 study that revealed people who walk less than 2,000 steps per day may have annual medical costs exceeding $10,000. Comparatively, people who walk 8,000 or more steps per day may reduce costs to as low as $3,000.
3. Qualcomm, Qualcomm Life's subsidiary, is leading UnitedHealthcare Motion's wellness program and is working with UnitedHealthcare to expand the program through the FitBit deal.
4. FitBit said the deal helps propel the company forward, moving from a fitness device company into a health and fitness company. Following the news of the deal, FitBit's shares increased 8.5 percent.