Insurance Fraud Accountability Act

HR 10095, the Insurance Fraud Accountability Act, targets health insurance agents and brokers who provide false or negligent information during enrollment in federally regulated health plans. It adds civil penalties of $10,000-$50,000 per violation for negligence and up to $200,000 for knowing fraud, plus criminal penalties of up to 10 years in prison for willful fraud. The bill requires new verification steps for enrollments, including written consent from consumers, delayed commission payments until issues are resolved, and clear notifications about coverage changes. It also mandates annual audits of agents/brokers, a public list of suspended professionals, and standardized marketing rules, all to be implemented by January 1, 2028.