Keep The Change

I was listening to an advertisement for Bank of America’s Keep the Change program this afternoon and found it to be very interesting.  Essentially, every purchase you make with your debit card gets rounded up and the difference put into savings.  For example, if you spend $3.43, they bill you $4.00 and put $0.57 in your savings account.  Forced savings (post opt-in of course).  And, they even having a matching program.

So, this accomplishes several things:

• Creates an easy way for the consumer to save
• Increases the money saved at Bank of America

It’s certainly in the bank’s best interest and good for the consumer.  It gets me back to my question from the other day.  If you are driving a positive result but you have to force the consumer there, is that okay?

What’s the healthcare model of this?

• If you implement (or do) all your preventative care recommendations, your prescriptions are free (or some type of incentive system like this)?  Which is good for the payor, insurer, and patient.
• How about a bundled copayment for certain events which included the office visit, hospital charges, and the prescriptions?  (Oh…sorry we couldn’t do that since we don’t know the prices in advance.)