This bill aims to protect individuals from discrimination in life insurance, disability insurance, and long-term care insurance based on genetic information. It prohibits insurers from using genetic information to determine eligibility, set premium rates, or impose preexisting condition exclusions in the absence of a clinical diagnosis. The bill emphasizes the importance of genetic testing in improving health outcomes and reducing healthcare costs, while also addressing concerns that the potential for insurance discrimination may deter individuals from seeking genetic testing.

The legislation includes specific provisions that clarify what insurers cannot do regarding genetic information, such as canceling or limiting coverage based on genetic data or soliciting genetic information for insurance purposes. However, it allows insurers to review medical records and consider clinical diagnoses when assessing applications. The bill also defines "genetic information" and "genetic test" in accordance with existing law, ensuring clarity in its application. Overall, the bill seeks to enhance access to insurance while safeguarding individuals' genetic privacy.