Life insurance companies will no longer be able refer to adverse predictive genetic test results in their policy decisions.
Federal Financial Services Minister Stephen Jones said the Government would move to end the ability to discriminate based on adverse predictive genetic test results, by banning their use in life insurance underwriting.
Minister Jones said genetic testing could be a life-saving step for members of the community.
He said this valuable technology supported medical practitioners to prevent, diagnose, treat and monitor a range of heritable conditions, cancer predisposition syndromes and cancers.
“No Australian should be discouraged from undertaking testing out of fear it may impact their ability to get life insurance.
“This decision places Australia as a world leader in removing barriers to genetic testing by stopping the use of adverse predictive test results in life insurance.”
Minister Jones said the ban was underpinned by extensive stakeholder engagement and consultation, with consumers still able to choose to disclose a favourable genetic test result.
He said the total ban would be subject to a five-yearly review to ensure there were no unintended consequences.
“This change will give Australians the confidence to undertake genetic testing without fear it will impact their ability to access financial security through life insurance.”
Australian Medical Association President Professor Steve Robson said the fear of being denied insurance coverage had been a huge disincentive for Australians to have genetic testing when they needed it.
“A situation where there’s been a huge financial penalty for having potentially life saving medical testing has now been corrected,” Professor Robson said.
