Neurological conditions adversely impact patients and society due to both quality-of-life decrements and high financial burden. Traditional cost effectiveness methods, however, may undervalue neurological treatments by assuming patients are risk neutral. This study seeks first to quantify insurance value for hypothetical treatments that delay the (i) cognitive and (ii) physical impairments of neurological conditions. Moreover, this study also measures risk preferences over neurological health states to inform parameterization of generalized risk-adjusted cost effectiveness (GRACE) analyses.