HIPAA Price Tag in the Billions and Ongoing

A.M. Best says that preparation of the insurance industry to meet the new privacy rules under the Health Insurance Portability and Accountability Act has cost insurers billions of dollars. HIPAA rules essentially required an overhaul of providers and health plans, and in some cases P&C carriers, to protect the privacy of patients' health information.According to the Health Insurance Association of America (HIAA), since HIPAA was announced, insurance companies have been conducting privacy risk assessments, appointing privacy officers, training employees about how to handle personal health infor...