September 12, 2007

Your Genes Will Kill Insurance Companies

Don't believe me? Think about this: eventually, you'll be able to get a report of which diseases you may potentially contract. In turn, you'll be armed with the knowledge needed to select the appropriate health insurance, removing the risk and guess work you associate now with health insurance plan selection. Insurance companies and their revenue stream feed and thrive on your snap judgement decisions on which insurance packages to choose.

VentureBeat's David Hamilton relays even more information about the future of insurance and genetics.
...there is a persistent, if not growing, fear that individual genomic information will be available to insurance companies, who would undoubtedly use the information to restrict coverage for those with “bad” genes — or even to deny it altogether. Anyone who doubts the bedrock economic incentives that drive such insurance decisions should take a look at Jonathan Cohn’s terrific book Sick...

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