KS Insurance Commissioner proposes new bill to help Kansans save on insurance costs

TOPEKA, Kan. (WIBW) – Kansas Insurance Commissioner Vicki Schmidt testified in favor of a bill to help Kansans save on some insurance costs Monday.

The bill, HB 2430, would create the Insurance Savings Account, giving Kansans a state tax-free way to save for property and casualty insurance expenses.

If the bill is passed, it would allow Kansas tax filers to open an Insurance Savings Account and make contributions up to a set amount, depending on their tax filing status.

“Insurance Savings Accounts are a sustainable way for Kansans to save state-tax free for their insurance costs,” Commissioner Schmidt said. “As the legislature works to address affordability, they should include this tool for Kansas families.”

Account holders can then use the money contributed to pay for property and casualty expenses, along with home and auto insurance and any associated deductibles.

Married couples who contribute the maximum payments to an ISA could save up to $670 on their taxes each year.

The bill was heard in the House Committee on Taxation on Monday, Jan. 26, this being the second year it’s been proposed to the Legislature.

Schmidt recently announced that the department has recovered over $202 million for Kansas policyholders since taking office in 2019.

Find the full text of the bill here: https://kslegislature.gov/.

Copyright 2026 WIBW. All rights reserved.