HIPAA regulation goes far beyond doctors and medical practices, all the way to companies that are self insured! Under HIPAA regulation, self-insured organizations and group health plans are considered covered entities. Covered entities must comply with the full extent of HIPAA privacy and security regulations because of the potential to encounter sensitive health data that must be safeguarded under the law.
If you’re an employee-sponsored group health plan with over 50 participants, or if your group health plans is administered by a third party (TPA) like an HMO or insurance carrier, you must be HIPAA compliant. Implementing an effective HIPAA compliance program for your group health plan is the best way to mitigate your risk of a devastating data breach and ensuing HIPAA violation. Financial penalties for HIPAA violations can reach up to $50,000 per incident–these are mistakes your self-insured business can’t afford to make!
If you’re offering group health plans like, dental, vision, prescriptions, medical coverage, Workers’ Comp, disability, and so on, you must be HIPAA compliant.
Compliancy Group gives your self-insured organization the power to take control of your HIPAA compliance with our cloud-based compliance solution, The Guard. The Guard is built to address the full extent of federal HIPAA regulation. Compliancy Group’s team of expert Compliance Coaches give weekly guided walkthroughs of your implementation process to ensure you do everything right the first time around.