{"id":20688,"date":"2023-09-08T16:46:44","date_gmt":"2023-09-08T16:46:44","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=739663"},"modified":"2023-09-08T16:46:44","modified_gmt":"2023-09-08T16:46:44","slug":"kansas-insurance-department-returns-funds-to-group-funded-pools-after-eliminating-assessment-fees","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/09\/08\/kansas-insurance-department-returns-funds-to-group-funded-pools-after-eliminating-assessment-fees\/","title":{"rendered":"Kansas Insurance Department Returns Funds to Group-Funded Pools After Eliminating Assessment Fees"},"content":{"rendered":"<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/midwest\/2023\/09\/08\/739663.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/midwest\/2023\/09\/08\/739663.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Insurance Department (KID) has returned dollars to group-funded pools following the enactment of legislation that does away with two assessment fees.<\/p>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>The Department introduced and successfully lobbied for the passage of legislation (SB 28) to eliminate the department\u2019s assessment on pools who paid into the Group-Funded Pools Fee Fund pursuant to K.S.A. 12-2623 and the Group-Funded Workers\u2019 Compensation Pools Fee Fund pursuant to K.S.A. 44-587.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>Senate Bill 28 repealed these assessments and discontinues these two funds.<\/p>\n<p>\u201cIf I can find an efficiency that helps lower the cost of doing business, we\u2019re going to implement it,\u201d said Schmidt in a statement. \u201cThis was an unnecessary fee and I\u2019m thrilled we are returning tax dollars to the folks who have paid them.\u201d<\/p>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>The bill transfers the balance of the two funds into a new fund known as the Group-Funded Pools Refund Fund with a sum of $153,247, the department said. This balance has been distributed to the 16 operating pools in Kansas on a pro-rata basis, based on premium taxes paid by each pool for Fiscal Year 2022.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em>Source: Kansas Insurance Department<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/location\/kansas\/\" class=\"btn btn-sm btn-primary tagtag\">Kansas<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"739663\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! 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Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>The most important insurance news,in your inbox every business day.<\/h4>\n<p>Get the insurance industry&#8217;s trusted newsletter<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Insurance Department (KID) has returned dollars to group-funded pools following the enactment of legislation that does away with two assessment fees. The Department&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[232,233,13,1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20688"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20688"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20688\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}