(Jan. 17, 2024) – Today, the Senate Financial Institutions and Insurance committee, chaired by Sen. Jeff Longbine (R-Emporia), received a status update on insurance from Kansas Insurance Commissioner Vicki Schmidt. Schmidt highlighted lowering licensure fees and deciding not to charge assessment this year. The commissioner and staff discussed education provided to the public and insurance industry, as well as work the office provides to consumers. Schmidt highlighted:

• A record year in returning $16 million to Kansas policy holders, along with more than $35 million recovered for Kansas since 2019
• A public facing complaints process
• Legislation to stop scammers

Committee members inquired about market conditions and had the following questions on Medicare Advantage:

• Sen. Beverly Gossage (R-Eudora) suggested she sees Kansans who have reached out thinking their Medicare Advantage supplemental plans would automatically cancel if not used. Highlighting she sees those who have been paying a supplement plan that's never been used. The Senator asked what can be done to allow brokers to track the supplemental policies to ensure people aren’t overpaying for a product they don’t need. The commissioner committed to working with the Senator on the issue.
• Sen. Jeff Pittman (D-Leavenworth) asked if the attorney general's office could provide more education on Medicare Advantage plans. The commissioner reiterated she has no authority over Medicare Advantage advertisements; however, they work with the Centers for Medicare & Medicaid Services on Medicare Advantage plan complaints. She also indicated it is the fastest growing complaint area for their office. The commissioner pointed her approval of federal bills to allow the state more oversight.

The insurance commissioner is slated to present to the House Insurance Committee this afternoon.