Insurance Fraud Accountability Act

This bill changes the Affordable Care Act to add penalties for insurance agents and brokers who give incorrect or false information on health plan enrollment applications. It sets civil fines per person enrolled and criminal penalties of up to 10 years in prison for knowing and willful fraud. By January 1, 2029, it requires a federal process to verify that people consented to enrollments or plan changes made by agents or brokers on federally run Exchanges, and to delay commissions until application issues are resolved. It also sets rules for marketing organizations involved in enrollment, requires periodic audits of agents and brokers, and requires a list of suspended and terminated agents to be shared with plans, Exchanges, and States.

Full text and official record on Congress.gov

Sponsors

• Ron Wyden Democrat sponsor
• 11 cosponsors