What does HIPAA stand for?

HIPAA stands for the Health Insurance Portability and Accountability Act. This legislation was enacted in 1996 to improve the efficiency of the healthcare system through the standardization of electronic healthcare transactions, safeguarding patient information, and ensuring that individuals can maintain their health insurance coverage when changing jobs or moving. The act comprises various provisions related to the privacy and security of health information, thus establishing an essential framework for protecting patient data.

The other options provided do not accurately capture the comprehensive essence of HIPAA; they either misstate key components of the act or fail to include both portability and accountability aspects that are critical to its purpose.