The Federal Health Insurance Portability and Accountability Act of 1996 (HIPAA) was enacted to provide guidelines for the healthcare industry to protect patient information and privacy. Protected health information includes any information that can be used to identify a person (think: name, date of birth, medical diagnosis, to name a few) in any form, including paper, electronic, and spoken information. For minors, this is a non-issue because parents, as legal guardians, have access to their children’s protected health information and are the ones making most of the medical decisions, as well as paying the expenses.

Helping your child prepare for the next phase of their life can be exciting, nerve-wracking, and a little bittersweet. Of course, there are also practical considerations. Ensure you play your role as a responsible parent by supporting them as they develop new financial habits, transition out of living at home, and plan for their future.