Privacy Policies of Bank of American and UnitedHealth Group
2.2 UnitedHealth Group/UnitedHealthcare
3. Privacy Policies
3.1 Bank of America
Purpose for sharing Shared Can be limited?
(Bank of America, 2011)
3.2 UnitedHealth Group/UnitedHealthcare
3. Policy Recommendations
3.1 Bank of America Policy Recommendations
The privacy policies of Bank of America are concerning. I found that the collection of certain information to be unnecessary and the ability to limit the sharing of information to be unsatisfactory. The bank chooses to share personal information for marketing purposes; although this is understandable the bank does not allow consumers to limit the sharing of information for this purpose. I strongly believe that consumers should have the right to opt out of this type of information sharing because is not necessary to establish or maintain a relationship with the bank. The customer has the right to not be notified of product of services; vice versa. The sharing of personal information for marketing purposes with third parties puts consumer information at if it is mishandled by the third party. In the event that personal information is mishandled by or stolen from a third party who has a relationship with Bank of America I am lead to believe that the blame would reside with Bank of America because the information would not be present if they did not share it. I believe that the bank should allow customers to opt out of the sharing of this information to third parties. Those that accept the sharing of information assume the risk that comes along with the sharing. This action allows that bank to share the information free of the liabilities and consequences that would be normally be involved should the information be mishandled or compromised in anyway.
3.2 UnitedHealthcare Policy Recommendations
UnitedHealthcare shares certain health information with plan sponsors, these sponsors being employers who participate in health plans. Although they claim to provide only a summary of enrollment information and health information to plan administrators the relationship of these administrators (typically human resource personnel) are usually internal. Employers usually pay a percentage of employee health benefits; giving employers access to certain detail of an employee’s care can have a negative impact on the employee’s employment. For example, an employee that is diagnosed with a chronic disease if likely to be in need of both frequent and expensive medical care. An employer that can determine this might look to terminate this employee in fear that the employee will bring added cost or be unable to perform his or her job function effectively. UnitedHealthcare should require employers to use administrators that are not internal employees. These administrators should be an experienced and trusted third-party of the healthcare industry; through this administrator employers are to manage their health plans. The administrators are to release sensible information that is relevant to the employer while protecting the enrollee. This action ensures that enrollee information is protected and businesses can still access the information that necessary for them to operate.