MS HB327

Adds violation of Section 103 of the Medicare Improvements for Patients and Providers Act of 2008 as grounds for the Insurance Commissioner to suspend, revoke, or refuse to renew an insurance producer's license, or impose a civil penalty up to $1,000 per violation.

Adds violation of Centers for Medicare and Medicaid Services (CMS) rules and regulations regarding sales and marketing restrictions on Medicare Advantage plans and Medicare Prescription Drug plans as grounds for license suspension, revocation, or civil penalties up to $1,000 per violation.

Creates new criminal misdemeanor offense for insurance producers violating federal Medicare marketing restrictions, with penalties of $500 to $5,000 in fines, up to six months in county jail, or both.

Civil penalties collected are deposited into the Insurance Department Fund in the State Treasury.

Effective July 1, 2010.