If you buy health insurance on the individual market, without help from an employer, you may want to know what Kansas is doing to protect you from unfair and unnecessary premium rate increases. Here’s a summary of the Kansas laws that govern rate increases.
- Kansas does not require insurers to obtain prior approval of individual market rates before they go into effect.
- Kansas has “file and use,” requiring insurers to file rates at least 30 days before their effective date. The Kansas Insurance Department can place rates on file or disapprove rates. KSA § 40-2215.
- Rates may not be unreasonable, excessive, or unfairly discriminatory. KSA § 40-2215(d). Individual market policies must meet minimum loss ratio standards. Kansas Administrative Regulations 40-4-1.
- Kansas does require pooling of closed blocks (policies no longer being sold) with appropriate open blocks (policies still being sold) of business for the purpose of setting premium rates. KSA § 40-2255.
- Kansas does not publicly disclose rate filings.
- More information can be found in Kansas’ rate review grant application.
Information is based on review of state statutes and regulations and, in some cases, interviews or emails with state insurance departments.