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Health Care Legislation Essay

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The federal government may have a different implementation of certain legislation relating to healthcare then here in American Samoa. I personally have been to several private sectors and have not been introduced to legislation related to some Employee Benefits. Take for instance, the Health Insurance Portability and Accountability Act (HIPAA) of 1996 and the Pension Protection Act. HIPAA rule of 1996 according to an article written by Daniel J. Denoon on WebMd "give you new rights to know about and to control how your health information gets used."In addition, "the original idea was to force the healthcare industry to save money by computerizing paper records." In 1994, I was informed by my doctor that I had an Ovarian cyst and had to remove …show more content…

Defined in Investopidea "An act of legislation that makes a large number of reforms to U.S. pension plan laws and regulations. This law made several pension provisions from the Economic Growth and Tax Relief Reconciliation Act of 2001 permanent, including the increased IRA contribution limits and the increased salary deferral contribution limits to a 401(k). It also attempts to strengthen the overall pension system and reduce the reliance on the federal pension system and the Pension Benefit Guaranty Corporation." I have been introduced to a 401k several years after starting with our local bank. At first I thought it was just another way of cutting my paycheck to a rather lesser amount. However, once I started contributing to it I realized I was preparing myself for a secured future. In addition to my Social Security deduction, I felt that it was well worthwhile. Soon after the bank was sold to another from a foreign country, each employee whom served for more than two years within the company received a hundred percent matching amount by the bank. It felt like a loss, however, I soon learned that the 401k plan can be transferred over to another company of your choosing. The only difficult reality I had to deal with was 401k was not planned locally rather an off-island firm that had no local offices or services available to us. I think the Pension plan provides a rather secured protection for the future,

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