With more companies required to provide insurance under Obamacare, business owners may look to offer employees healthy-living incentives and track them with wearable technology, John Sculley, co-founder of Misfit Wearables and former Apple CEO, told CNBC on Tuesday.
While the president's Affordable Care Act (ACA) goes into effect Jan. 1, the provision requiring companies with 50 or more full-time employees to either offer health coverage or face a fine has been delayed until 2015. On the consumer side of the law, nearly all people who lack health insurance must obtain such coverage or face a fine.
"We're already seeing a rush by employers who are moving to self-insurance. And as they do that, they suddenly care about their employees productivity in terms of their health care," Sculley said in a "Squawk Box" interview.
More companies will offer discounts on health insurance to workers who live healthier lifestyles by, for example, avoiding smoking or staying fit, he predicted, adding that gadgets such as Misfit's wearable fitness device Shine could play a part "tracking things, giving people personal goals." This is all part of the "consumer-era of health care, which we think is going to be pretty big," he added.
There's been a lot of talk about wearable technologies with Apple, Google, and Samsung all rumored to be working on smart watches, which would presumably have personal tracking capabilities such as Misfit's Shine.