Insurance Fraud Accountability Act

This bill targets insurance fraud in health plan enrollments by imposing new penalties on agents and brokers who provide false or negligent information. It creates civil penalties of $10,000-$50,000 for negligent errors and up to $200,000 for intentional fraud, with criminal penalties (up to 10 years in prison) for willful violations. New verification requirements mandate consent documentation, delayed commission payments until enrollment issues are resolved, and consumer notifications for unauthorized changes. The bill also establishes audits to monitor compliance and sets stricter rules for marketing organizations involved in enrollment. These changes apply to all health insurance agents, brokers, and marketing groups working through government health insurance Exchanges.