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Alzheimer's test could impact long term care insurance

Alzheimer's Disease is something that has impacted millions of people from one side of the world to the next. This is true among many of our New York readers, as well as those in other parts of the world.

Researchers at Georgetown University, as well as a number of other medical centers, have developed a blood test that can predict with 90 percent accuracy whether or not a person will develop this disease within two to three years. If this ends up being accurate and is accepted by medical professionals throughout the country, it could have a big impact on long term care insurance.

Not only could this impact the industry in many ways, but it could go a long way in helping researchers find a treatment and possible cure for the disease. If it also offers the ability for medical professionals to intervene at an earlier time, long term care costs will be positively impacted.

In the event that somebody submits to the test and finds that he or she could develop the impairment, there is a much better chance the person will purchase long term care insurance. However, if insurance companies have access to the results, they will either deny the person coverage or simply charge him or her a higher premium.

There is a lot that goes into long term care planning, and medical testing is just one of the many things that people do to improve their chance of a better future. If this test for Alzheimer's Disease works as planned, it could throw a wrench into the long term care insurance market.

Source: Forbes, "How A New Alzheimer's Test Could Kill Long-Term Care Insurance -- Or Make It Cheaper" Howard Gleckman, Mar. 26, 2014

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Weinstein & Randisi
290 Linden Oaks, Ste. 200
Rochester, NY 14625

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