Final answer:
HIPAA is an acronym for Health Insurance Portability and Accountability Act. It sets the standards for the protection of patient information and requires businesses to maintain strict confidentiality of patient records.
Step-by-step explanation:
HIPAA is an acronym for Health Insurance Portability and Accountability Act. It was passed into law in 1996 and sets the standards for the protection of patient information. HIPAA requires businesses that use health information, such as insurance companies and healthcare providers, to maintain strict confidentiality of patient records. It aims to protect against unauthorized release of individually identifiable health information to any entity not actively engaged in providing healthcare to a patient.