Which of the following best describes the purpose of HIPAA?

The purpose of HIPAA, the Health Insurance Portability and Accountability Act, primarily revolves around the protection of sensitive patient health information. Enacted in 1996, HIPAA established standards to safeguard individuals' medical records and other personal health information, ensuring that this data is kept confidential and secure. This protection extends to healthcare providers, health plans, and healthcare clearinghouses that deal with personal health information.

The emphasis on privacy and security is a fundamental principle of HIPAA, as it addresses the growing need to protect patient health information from unauthorized access and breaches. This legal framework has become crucial in maintaining patient trust and upholding individual rights concerning personal health details.

While the other options touch on aspects related to healthcare—such as insurance regulation, public health guidelines, and healthcare cost management—none align with HIPAA's primary focus on the protection of patient information. Thus, the correct choice captures the core intent behind the legislation effectively.