What Life Settlement Industry Should Know About HIPAA Rule

Law360, New York (April 2, 2013, 11:10 AM EDT) -- The U.S. Department of Health and Human Services issued its final omnibus, revised privacy and security regulations under the Health Insurance Portability and Accountability Act, the Health Information Technology for Economic and Clinical Health Act, and the Genetic Information Nondiscrimination Act, which significantly affect the health care industry. The new rule, like its predecessor, does not apply to participants in the life settlement industry (life settlement brokers and providers, life expectancy companies and investors) because they are not “covered entities” (health care providers, health plans or health care clearinghouses) or “business associates” of covered entities.

Nevertheless, because participants in the life...

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