Feature in health plans in which your coverage cannot be canceled due to your get sick. HIPAA requires all health plans to be guaranteed renewable. Your coverage can be canceled for other reasons that are unrelated to the status of your health. ealth nsurance ortability and ccountability ct (HIPAA) - Also and more commonly known as the Kassebaum-Kennedy act. This is in reference to the two senators who were behind the bill. Passed in 1996 to help people purchase and hold onto health insurance, even if they have serious health conditions, the law sets a national floor for health insurance reforms. ealth aintenance rganization (HMO) - An organization that provides for a wide range of comprehensive health care services for a specified group at a fixed periodic prepayment.