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Minutes for HB2044 - Committee on Insurance
Short Title
Requiring that third party administrators maintain separate fiduciary accounts for individual payors and not contain funds collected or held on behalf of multiple payors and disclose to the commissioner of insurance any bankruptcy petition filed by or on behalf of such administrator.
Minutes Content for Wed, Jan 29, 2025
The hearing on HB2044 was opened by the Chair.
Assistant Revisor, Ma gave an overview of the Bill and stood for questions. (Attachment 4)
Eric Turek, Director of Government Affairs, KDI, gave proponent testimony and stood for questions. This bill requires the Kansas Department of Insurance be notified when a third party administrator files for bankruptcy in order to avoid any disruption in services to employees, ensuring the KDI is informed and ensuring separate accounts for clients, easing the transition for businesses. (Attachment 5)
There were no neutrals or opponents present.
The Chair closed the hearing on HB2044.
