Life Insurance Genetic Test
While other countries have protected consumers from this there is no such regulation in australia.
Life insurance genetic test. The genetic information nondiscrimination act gina was put into place in 2008. How does the genetic information nondiscrimination act work. The unfortunate answer is that if the life insurance company discovers that some of your genetic markers are positive for one or more diseases they can use that information to charge higher premiums or decline you for coverage altogether. Times reported in a recent article that as many as 700 000 americans have done a full genome scan.
Life insurance applicants must disclose genetic test results if required by the insurer. Updated march 25 2019. Gina makes it illegal for health insurance providers to make decisions about an applicant s premiums or eligibility for coverage based on the results of genetic testing but it doesn t affect life insurance companies or long term care providers. Genetic testing is dramatically on the rise.
This means that health insurance companies cannot use the results of a direct to consumer genetic test or any other genetic test to deny. Importantly genetic test results do not affect private health insurance and group life insurance life insurance products that are available through superannuation funds as these types of insurance do not require an individual risk assessment of each potential consumer 16. Genetic testing can affect life insurance rates. The main concern over the use of genetic testing in the life insurance industry is whether it would be used to discriminate unfairly against those with genetic conditions.
The typical test taker also fits the profile of a life insurance buyer. Health risk society. People are willing to share their information under certain conditions. There are correlations between taking a test and purchasing life insurance and making healthier lifestyle choices.
Risks for insurers and society. Passed in 2008 a federal law called the genetic information nondiscrimination act gina made it illegal for health insurance providers in the united states to use genetic information in decisions about a person s health insurance eligibility or coverage. Life insurance and health insurance providers already have wide access to medical data lifestyle and activity patterns which they currently use to assess risk. Recent breakthroughs in genetic testing are helping people pro actively address potential health risks but if you re shopping for life insurance you may want to hold off on genetic testing until after you apply.
The genetic information nondiscrimination act passed in 2008 after more than a decade of being fought for by advocacy groups. Their reasoning is that if you are more prone to potentially life threatening health problems.
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