It seems like a futuristic movie scene when there is talk about genetic testing to determine health insurance coverage or Long-Term care insurance. Some states are prohibiting the use of genetic testing for this purpose. Some of the obvious ramifications of genetic discrimination include higher premiums, rejection of insurance, or cancellation of existing policies.
So, what is genetic testing?
Genetic tests can predict risk for devastating diseases like Alzheimer's and certain cancers. The tests, which analyze DNA, RNA and chromosomes, only indicate risk and cannot confirm whether or not somebody will actually get a disease. The markers found in our genes do not indicate that we have or will have these diseases. The experts are saying that they can combine your genetic markers with your environmental indicators to find your odds for getting some of these diseases.
These tests are not regulated and are not even fully accurate. They are in the infant stages of understanding the genetic codes and insurance companies should not make decisions based on the tests because it is all so preliminary.
Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI) makes a good point. He says that it is the genetic testing itself that is encouraging people to purchase long term care insurance. If you found out that you have 5 out of 7 genetic markers for a stroke and you don’t exercise or eat right, you might be more apt to go out and buy a long-term care insurance policy.
When looking into long-term care planning, it is important to consult with a Long-Term Care Insurance Specialist
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