Which act governs the regulation of health insurance practices in the United States?

The McCarran-Ferguson Act is the key legislation that governs the regulation of health insurance practices in the United States. Enacted in 1945, this act grants states the authority to regulate insurance companies, including health insurance, rather than the federal government. It established the principle that the business of insurance is primarily under state jurisdiction, which means that states can create their own laws regarding insurance practices, including licensing, rates, and market conduct.

The McCarran-Ferguson Act also contains a provision that prevents federal regulation of insurance if the state regulations are in place, reinforcing the states’ role in managing insurance markets. This legislation has a significant impact on how health insurance is designed and administered, allowing for a degree of local control that can account for the specific needs of state populations.

The other options represent important legislation in the healthcare landscape but serve different purposes. The Affordable Care Act focuses on expanding access to healthcare and includes provisions for insurance coverage standards. The Patient Protection Act is part of the Affordable Care Act, emphasizing protecting patients' rights. The Health Insurance Portability and Accountability Act (HIPAA) primarily addresses the privacy and portability of health information rather than regulating health insurance practices.