Sep 28, 2016 12:21 PM EDT By Don Don Navidad, UniversityHerald Reporter

Aetna, an American managed health care company, announced a major health initiative centered on the Apple Watch, iPhone and iPad, which will see the insurance company subsidizing the price of the Apple Watch for both large employers and their individual customers.

Starting this fall during open enrollment season, the health care company will subsidize a significant portion of the Apple Watch price and will offer monthly payroll deductions to compensate the remaining amount.

Aetna also intended to offer the Apple Watches at no cost to all of its nearly 50,000 employees, which is a part of a wellness reimbursement program to encourage the employees to live healthier lives, based on the report of Mac Rumors.

Tim Cook, Apple's CEO, stated that they are thrilled that Aetna will be helping their employees take greater control of their health by means of the Apple Watch.

Cook also said that the new initiatives of the insurance company will be a powerful force toward creating better customer experiences in health care, and they look forward to collaborate with Aetna to make them successful.

Even though the healthcare industry didn't express astonishment during the Apple Watch debut, perhaps, as insurance companies are concerned, today's Apple Watch will pay for itself, according to CNET.

That being said, Aetna made it known that the associated apps, which will run on iPhones and iPads, will remind individuals when to take their medications and when to order their refills. Apple Watch will guide users through health events like being prescribed a new medication, and provide insurance information. The apps will also be able to connect to the Apple Wallet app for making payments, Fortune reported.

Aetna CEO Mark Bertolini said in a statement that they look forward to utilizing these tools to improve health outcomes and help more individuals achieve more healthy days.

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