Medical Law

Step 1: Decode the acronym and its purpose. Step 1: The question refers to a major piece of US legislation from 1996. The components listed (insurance portability, privacy of health information, security of health data, standardizing electronic transactions) are the key features of this law.
Step 2: Identify the correct act.
Step 2: HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. Its main objectives were:

To improve the portability and continuity of health insurance coverage.
To combat waste, fraud, and abuse in health insurance and healthcare delivery.
To promote the use of medical savings accounts.
To simplify the administration of health insurance, which led to the famous Privacy Rule and Security Rule for protecting patient information.
This perfectly matches the description. The other acronyms are not relevant acts.