Consumer Law

Genetic Information Nondiscrimination Act prevents insurers from using your genes to jack up your premium

By Sam Glover

Insurers would love to assess your risk based your genes. That is, if you were high risk for cancer, your insurer would prefer to charge you a higher premium, since there would be a good chance it will be paying for expensive cancer treatment at some point.

Of course, everyone has some genetic predispositions. But many have expressed the fear that if they find out what those genetic predispositions are, they will be charged higher rates by their insurance companies.

The Genetic Information Nondiscrimination Act, which President Bush signed into law last week, removes this obstacle to genetic testing for consumers.

Also, if insurers were allowed to add up what it would cost to treat us and just charge us in advance, then we would be the ones gambling that we will get sick, and insurance companies would be no-interest (or reverse-interest) savings banks, not insurers.

President Bush Signs Genetic Nondiscrimination Act [Slashdot]

Full post as published by Caveat Emptor on May 27, 2008 (boomark / email).