Buying Insurance After Genetic Testing

[fsturbo15]

My father has had 2 cases of reoccuring cancer and his doctor has recommended he get genetic testing to verify if he has the gene responsible for his reoccuring cancer.

He then recommended that if his tests return positive for the mutation in the gene responsible for his cancer, all his children perform the same genetic tests as well.

My question is, as a young man in his twenties, if I do in fact test positive for the mutation which would increase my odds of developing the same cancer greatly, will this in turn have an effect on my ability to purchase health insurance individually, receive insurance from an employer, or effect any insurance premiums?

He claims it is illegal to discriminate based on genetic data as does it say on the genome . gov website.

Health Insurance (Title I)

GINA prohibits issuers of health insurance from discrimination on the basis of the genetic information of enrollees. Specifically, health insurance issuers may not use genetic information to make eligibility, coverage, underwriting or premium-setting decisions. Furthermore, issuers may not request or require individuals or their family members to undergo genetic testing or to provide genetic information. As defined in the law, genetic information includes family medical history and information regarding individuals' and family members' genetic tests.

The regulations governing implementation of GINA in health insurance[hhs.gov] took effect on December 7, 2009 and are implemented by the Internal Revenue Service, Department of Labor, and Department of Health and Human Services. An additional regulation pertaining to protection of genetic information under the Health Information Portability and Accountability Act (HIPAA) has not yet been finalized [hhs.gov] .

Employment (Title II)

GINA prevents employers from using genetic information in employment decisions such as hiring, firing, promotions, pay, and job assignments. Furthermore, GINA prohibits employers or other covered entities (employment agencies, labor organizations, joint labor-management training programs, and apprenticeship programs) from requiring or requesting genetic information and/or genetic tests as a condition of employment. The regulations [gpo.gov] governing implementation of GINA in employment took effect on January 10, 2011 and are implemented by the Equal Employment Opportunity Commission (EEOC).

What do you all think?

 

[Quotebroker]

Moot point in 6 months. Everyone is guaranteed issue.

 

[Ann H]

I'm not sure what state you are in, but in many states you may need to disclose this on a life insurance application.

Until 2014 most health plans can ask health questions, and although they cannot discriminate based on the test results or genetic factors, nonetheless you may have more testing done if you are at higher risk and those facts would need to be disclosed. In January 2014 you can get a health plan with no health questions asked.

 

[xrac]

If I were in that situation I would purchase as much convertible, guaranteed life insurance with a top tier company as I could afford.

 

[Tahoe Ray]

If I were in hat situation I would purchase as much convertible, guaranteed life insurance with a top tier company as I could afford.

And do it before you get the test done...

 

[HelpingPeople]

You may also want to consider purchasing a critical care insurance policy. You can get a policy as high as $500k with some carriers (tax free upon diagnosis). Get it when you are young.

 

[fsturbo15]

Thanks for the comments guys. I am not really interested in life insurance. I am primarily concerned about health insurance.

I think the safe thing to do at this point would be to wait until 2014 and the "no questions asked" policy begins.

 

[xrac]

Thanks for the comments guys. I am not really interested in life insurance. I am primarily concerned about health insurance.

I think the safe thing to do at this point would be to wait until 2014 and the "no questions asked" policy begins.

If you ever think you will want life insurance you definitely want to do it before genetic testing.

 

[HelpingPeople]

Keep in mind that the no questions asked health insurance will be those plans offered on the "MarketPlace" or Exchange. We don't know what the pricing will be for those plans.

You might be money ahead to get a plan now that has medical underwriting to get rewarded with lower premiums.

There will still be companies that offer plans with medical underwriting. These plans do not have to conform to the new reform laws (this depends on the state you are in). At this time, you will want to evaluate your cost for those plans that require medical underwriting vs those on the exchanges (Oct 1, 2013). Also note that if you get a plan from the "MarketPlace" or Exchange, you may be eligible for a tax credit depending on your income (the Affordable part of health care).

How are tax credits applied. Don't know if you get a reduction in premium from day one, or if it is on your tax return at the end of the year..... ???