American Recovery and Reinvestment Act of 2009 (ARRA) made changes to the laws affecting executive compensation, COBRA, and HIPAA.
ARRA amends Code Section 162(m) to provide that employers receiving TARP money may not deduct compensation to covered executives in excess of $500,000.
ARRA expanded HIPAA in a number of ways. Most changes are effective February 17, 2010.
ARRA expanded the reach of HIPAA security provisions to apply to business associates as well as covered entities. ARRA also provides that covered entities must notify affected individuals of any breach in the security of their PHI.
ARRA extends the HIPPA privacy rule to provide that covered entities must honor request to restrict certain information related to health care for which the provider has been paid in full out-of-pocket.
ARRA introduces the concept of the “electronic health record,” and provides that an individual may request an account of such records for up to three years.
Finally, ARRA increases civil penalties for HIPAA violations to $1,000 per violation due to reasonable cause and $10,000 per violation due to willful neglect.
ARRA added a temporary premium subsidy for COBRA.
- ARRA (located at Wikisource)