HIPAA
As used herein the term "Company" refers to HM Life Insurance Company, HM Life Insurance Company of New York and HM Benefits Administrators, as applicable.
HIPAA Titles
HIPAA is a legislative act made up of five titles as described below:
- Title I, "Health care access, portability and renewability," states that employers and health plans must allow a new employee's medical insurance coverage to remain continuous without regard to pre-existing conditions.
- Title II, "Preventing health care fraud and abuse; administrative simplification; medical liability reform" defines new requirements for privacy and security of individually identifiable patient information.
- Title II, "Administrative simplification," Subtitle F reduces the administrative component of health care costs through the implementation of electronic data interchange (EDI) standards primarily by embracing ASC X12N transaction formats.
- Title III, "Tax-related health provisions," standardizes the amount you can save per person in a pre-tax medical savings account.
- Title IV, "Application and enforcement of group health plan requirements," broadened information on insurance reform provisions and provides detailed explanations.
- Title V, "Revenue offsets," describes regulations on how employers can deduct company-owned life insurance premiums for income tax purposes.
For detailed information on the titles, click here.
