KS SB121

Authorizes the Kansas Insurance Commissioner to select and announce annually by December 1 which version of NAIC insurance calculations, instructions, and documents (including risk-based capital instructions and group capital calculation instructions) will be in effect for the upcoming calendar year, with publication in the Kansas Register.

Allows life and health insurers that predominantly report health lines of business to follow health organization financial reporting requirements rather than standard life insurer requirements, based on a health statement test determined by the commissioner.

Adopts NAIC holding company system regulatory provisions requiring insurance holding company systems to file annual group capital calculations and liquidity stress test results with lead state commissioners, with specific exemptions for single-insurer systems, those regulated by the Federal Reserve, and those with non-U.S. supervisors in reciprocal jurisdictions.

Exempts self-funded health plans established by state/local governments, school districts, public authorities, and churches or church associations (tax-exempt under IRC Section 501) from state regulation as health benefit plans.

Establishes confidentiality protections for group capital calculations, group capital ratios, and liquidity stress test results, prohibiting their public disclosure or use in advertising, while allowing information sharing among regulators under written agreements.