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Health Insurance Accountability Research Paper

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Health Insurance Portability and Accountability Act
Federal Law Health Insurance Portability and Accountability Act (HIPAA) of 1996 was created to protect health insurance coverage for an employee and their family should there be a change in job status, whether it be a career change or loss of employment. The goal of HIPPA included the creation of a standardized electronic process for health care transactions. It also created national identifiers for healthcare providers, employers, and insurance plans. HIPAA also facilitated standards on how healthcare information and computer systems are to be protected through the use of digital signatures to enable the transfer of healthcare information with privacy and security in mind.
Compliance
Health insurance companies, health care providers, and billing companies must ensure that the use and disclosure of protected health information (PHI) is done with utmost care and safeguarded in a manner to prevent breaches in security and privacy. When security and privacy based infractions occur within the HIPAA Enforcement Rule, they have the potential to result in heavy fines on the civil action level as well as steep prisons sentences on the criminal level (The HIPAA Security Rule 2015). Penalties on the civil level can be as low as 100 …show more content…

Legitimacy in accounting practices is ensured by the check and balance of having independent auditors from registered public accountant firms reviewing financial practices. The report features eleven sections and these sections pertain to accounting overview, independence of auditors to reduce interest conflicts, corporate responsibility, financial disclosures, tax returns, criminal fraud and various elements of white collar criminal activity (107th Congress

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