Senate Bill No. [insert number] introduces the Montana Dental Insurance Transparency and Accountability Act, which aims to enhance transparency and accountability in dental insurance practices. The bill mandates that dental insurers provide clear information regarding their medical loss ratios, which reflect the percentage of premium dollars spent on patient care. It establishes annual reporting requirements for dental insurers to submit detailed reports on their dental loss ratios, including data on enrollees, cost-sharing, deductibles, and maximum coverage limits. The bill also outlines the commissioner of securities and insurance's role in making this information publicly accessible and in investigating insurers that fall below acceptable loss ratio thresholds.

Additionally, the bill amends existing law to allow for the aggregation of dental loss ratios and the identification of outlier plans that do not meet established standards. It introduces a new framework for potential remediation actions against insurers with consistently low loss ratios, including the possibility of requiring them to issue rebates to policyholders. The bill also includes provisions for rulemaking to define key terms and ensure compliance with federal standards. The act is set to take effect on June 1, 2025, and will apply to dental insurance policies issued or renewed on or after January 1, 2026.

Statutes affected:
LC Text: 33-18-208
SB0335_1(1): 33-18-208
SB0335_1(2): 33-18-208
SB0335_1(3): 33-18-208
SB0335_1(4): 33-18-208
SB0335_1(5): 33-18-208
SB0335_1(6): 33-18-208
SB0335_1(7): 33-18-208
SB0335_1: 33-18-208
SB0335_2(1): 33-18-208
SB0335_2(2): 33-18-208
SB0335_2(3): 33-18-208
SB0335_2: 33-18-208