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Did you know your shopping habits are being watched employers need an insurance companies are peaking at your shopping carts to monitor your health.
And to make sure you're not eating too many candy -- joining me now John -- the consumer education president for Smart credit dot com welcome back to the show John -- -- on -- here so much so warning there are these insurers looking for how are they tracking us.
It's a little creepy -- they're tracking a some variety of ways a lot of this information we need our giving and alma voluntarily by signing up for things like.
Corporate wellness programs were there tracks things like how many steps are taken a day and how often you're going to the jam and -- laxity.
Put these monitors on -- -- kind of track information and set about making to much beat it for two reasons risk mitigation.
And marketing to very very powerful tools for.
And lucrative that they managed to write a regular -- -- wanna share with folks blue cross blue shield of North Carolina did something very interesting they spent a ton of -- Buying big day -- lots of detailed information on three million people in their employer group plans so here they have.
Just at an incredible.
Amount of data small pieces of information about your buying habits what you're doing where you're going eccentric -- -- This helps them manage costs.
On behalf of the company and of course it does what how does an insurance.
Company make money.
They make they make money by white.
Not paying claims and -- assuring people who are unhealthy so anything that they can do to get their hands on information that indicates.
Very valuable to their community speaking at a pricey insurance more -- -- -- -- you all together.
Johnson & Johnson paying workers 500 bucks to submit their biometrics so here you give them every single.
Absolutely and and I'm thinking look at I'm looking for a job or let's say what you -- I -- a pre cancer screening.
Yeah well looked at it from the employer's perspective which is kind of a rough thing to do anything on employer their attitude is locked.
If you are sick if you are unhealthy you what productions going to be down their quality of work is likely going to be down you're gonna be sick all the time.
Are you really the right fit for this position.
-- -- -- -- breaks my heart.
You know -- want to attack because so many people who are looking for jobs right now they're not twenty they're not 25 they're 55 that's sixty they're desperate to get a job.
They may have some kind of condition that their turn a monitor.
Here's what CVS pharmacy debt they said okay submit your health information or we'll have you pay a 600 dollar fine every year wow that's for when I think than any know what you that.
You'd be surprised about it but that money is being subsidized to some extent by the drug makers may want to know what.
Do they can market their products to and he distributes the products CD -- another pharmacy is why our GAAP might just wheels within wheels here you're scaring me.
Here's I'm wondering.
What do I go to a big name retailer -- my credit card to buy plus size clothing.
That is so this is serious -- -- does that does that mean my employer at some point might know that.
It's like your player but now to Europe plus side because they see you every day and that's that's number one but now it gets but as part of your -- now I -- now -- Data with other information that's a problem what it's no secret if you -- -- card to buy anything anywhere.
The credit card companies know immediately because if approved the transaction and so they know what -- you are currently act.
Because they -- -- the -- So absolutely they know at a fraction of a second if your act Bob Barr if your act up plus size store shortlist let's be fair -- -- If Europe you -- auto -- your gym membership.
On your credit cards and they have all this information and if all goes into their models and determine what kind of health risk you are or are not.
The big change here I think is that this information used to be available to credit card issuers -- used to be available just to retailers -- but now insurers.
Are buying this -- -- spending data.
And because of that.
Ultimately your employer can can know every detail of your health issues maybe even before you do.
Yet no more secrets is is that's that's that environment we live -- -- truly no more secrets.
It it's big money.
Massive massive money again we're looking at -- or how what kind of market to you what can I take away from me because you just simply too risky and look it's not gonna change its just gonna get worse.
-- -- We it's partially our fault we put way too much information about ourselves.
I don't such how many people post on FaceBook are brought my flight yesterday or slipped a line drive -- a man look at that's -- I'm sick.
We are voluntarily giving a lot of this information out.
So it's not terribly difficult to find it.
Wow don't use a credit card to buy things because that's how they track I mean that's one thing not to do this will keep you from being tracked.
And don't do it on a cell -- we just had a segment at the top of the show about how cell phones get in trouble you know and she can do to kind of minimize -- a -- -- to get rid of it nothing well determined by the about the information you're getting on warranty cards.
Well so when you're let's say by and large electronics or refrigerate or whatever you get a warranty card.
You still lot a boatload of information it has actually nothing to do with the fact that -- about to use their microwave.
What do you think that information goes why do you think they're asking Robin information be cynical and skeptical because all that information is being sold to some -- being aggregated.
And then resold to someone else so people can market things to you -- alliance cynical now John thanks for coming on the show great see you thank you very much.
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