HIPPA (or the Health Insurance Portability and Accountability Act) ensures the security and integrity of your healthcare information from being shared with anyone whom you haven’t explicitly noted. But what if you’re incapacitated and your medical condition is not known by your family and loved ones?
In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to talk about why it’s important to add loved ones to your HIPPA release forms. Doctors and other healthcare providers decided in the mid-80s that they didn’t want to assume the risk and liability of sharing medical details with the wrong parties… and HIPPA became the norm. HIPPA does a lot to protect your privacy, but most importantly – they won’t talk to ANYONE not listed on your release.
This is important because there could be a time when you may be unable to share the details of your medical condition – and your loved ones could be shut out completely without you explicitly listing them on your HIPPA forms. Do this now… like today. You don’t want to be in a situation where loved ones are unable to have access to information to know how to best take care of you. Don’t delay on this one.
Yes, talking about your end-of-life care is often uncomfortable. But if you don’t plan today, you’re creating a huge possibility that you’ll leave family and love ones in the dark – when you need them the most.
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