During the course of transacting business with hundreds of senior clients, we are often asked:

“How do we know that our information is not used for any purpose other than to generate offers from Life Insurance Carriers? How do we know that you will safeguard our personal information?”

In an era of electronic mail, fax machines, and the world-wide-web, this is a legitimate concern. The American Health Insurance Portability and Accountability Act of 1996 (HIPAA) is a set of rules to be followed by health plans, doctors, hospitals and other health care providers. HIPAA, which took effect on April 14, 2003, now mandates that all patient account handling, billing and medical records are HIPAA compliant.

Some provisions of HIPAA involve patient/hospital interactions. For example, patients must be given access to and be able to edit their records and must be informed of how their personal information will be used. Other provisions involve confidentiality of patient information and documentation of privacy procedures. These provisions have led to regulation-specific software updates, specialist consulting, and in some cases complete overhauls of medical billing and records systems.

Many health-related businesses have been working to achieve compliance over the past few years. Parts of the compliance model are in place, but many struggle to build a comprehensive sustainable system. At The Oxford Financial Group, we have implemented HIPAA security standards across all of our networks. Our business flow process is managed with one goal in mind—to maintain complete client confidentiality for our clients through each stage of the transaction.

Please see: http://aspe.hhs.gov/admnsimp/p1104191.htm which outlines the HIPAA statute, as well as: *August 2003 Complete Privacy, Security, and Enforcement (Procedural) Regulation Text (45 CFR Parts 160 and 164), December 28, 2000 as amended May 31, 2002, August 14, 2002, February 2003, and April 17, 2003 – Unofficial Version [PDF-2.8M] (The Office of the Financial Register publishes the official version of all federal regulations on the Code of Federal Regulations (CFR).)

Although this document is too brief for a lengthy overview of the regulation text regarding HIPAA, it is a recommended read for any individuals who have questions regarding our legal obligation to safeguard client data. Please rest assured that we treat your confidential information with the utmost care and regard for your privacy. All information received by our office, regardless of the manner of transmission, is properly protected while allowing the flow of health information that is required. We go beyond the scope of federal regulations to ensure your security.

• All information received is scanned and placed on secure servers.
• All transactional and personal data required by the state of California to remain on file in hardcopy is locked at all times and only the Chief Operation Officer has access to those files.
• Any information that the law does not require us to keep on file is destroyed.
• Any and all files pulled for review or use are immediately placed back in their catalogued file. Only one file may be pulled at a time.

We welcome any and all questions you may have regarding our very serious commitment to keep your private and confidential information secure.

Sincerely,

The Oxford Financial Group