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Apple In Talks With Medicare Plans To Bring Subsidized Apple Watch To Seniors

Apple Inc. (AAPL) is reportedly in talks with at least three private Medicare plans to provide subsidized Apple Watches to people over age of 65.

According to CNBC, the insurers are exploring ways to subsidize the cost of the Apple Watch, as the device could benefit many seniors citizens but most of them can't afford. The latest edition of the device, which includes the most extensive health features including fall detection and an electrocardiogram to measure the heart's rhythm, retails for a minimum of $399.

However, the talks have not resulted in any official deals yet, the report says. Apple has paid a visit to several of the largest insurers in the market, as well as some smaller, venture-backed Medicare Advantage plans.

"It's the segment of health insurance with the highest dollar revenue and margin per member," said Augustin Ruta, a health insurance consultant with A2 Strategy Group, to CNBC. Ruta also noted that Medicare members enrolled in these private plans tend to have lower churn rates, which gives insurers more of an incentive to invest in members' long-term health outcomes.

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