Aetna and Bank of America Team Up on Healthy Living Credit Card
By Seth Harbison
Insurance company Aetna has teamed up with Bank of America to offer a new Aetna Healthy Living credit card for many of Aetna’s health insurance customers. Available later this year to qualifying Aetna customers, the Healthy Living card will offer reward points for all purchases, but increased points for certain medical purchases as well as discounts on activities that promote healthy living.
Aetna’s medical, dental, pharmacy and behavioral health members can earn three points for every dollar charged on health-related purchases including hospital treatments, doctor and dentist visits, sporting good store purchases, fitness and weight loss center purchases, vitamin store purchases and others. They will receive one point per dollar on any other purchases with the card.
Points can be used in a variety of ways. If cardholders use their points for certain health-related merchandise rewards such as gym equipment, bikes or blood pressure monitors, they’ll get a 10 percent point redemption discount. Alternately, they can redeem points in the form of statement credits or cash rewards, including the option to deposit reward cash in a health savings account (HSA).
While the Healthy Living credit card is currently available only for Aetna’s Small Group customers, Aetna plans to expand the offering to other customer groups next year.