The Montana Dental Insurance Transparency and Accountability Act aims to enhance transparency and accountability in dental insurance by establishing clear requirements for dental insurers regarding their medical loss ratios and premium expenditures. The bill mandates that dental insurers provide annual reports detailing their dental loss ratios, which reflect the percentage of premium dollars spent on patient care. Insurers must file these reports with the commissioner of securities and insurance, who will then make the information publicly accessible. Additionally, if a dental insurer's loss ratio falls below 80%, they are required to issue rebates to policyholders on a pro rata basis.

The bill also amends existing law to allow for these rebates, which were previously prohibited, and outlines the rulemaking authority of the commissioner to define relevant terms and ensure compliance with the new regulations. The act will take effect on June 1, 2025, and will apply to dental insurance policies issued or renewed on or after January 1, 2026. Overall, the legislation seeks to ensure that dental insurance practices are fair and transparent, ultimately benefiting consumers in Montana.

Statutes affected:
LC Text: 33-18-208