A HIPAA statement, also known as a HIPAA Notice of Privacy Practices, describes how a person’s health information may be used and disclosed, as well as their rights regarding that information. HIPAA stands for Health Insurance Portability and Accountability Act, and the HIPAA Privacy Rule establishes federal standards to protect the privacy of personal health information (PHI). PHI includes information such as demographic information, past, present, or future physical or mental health, and related health care services.