The proposed bill aims to establish new regulations for dental insurers in North Dakota, specifically focusing on rate approval and reporting requirements. It introduces a new section that allows the commissioner to disapprove a proposed dental insurer rate if certain conditions are met, such as an increase in administrative expenses exceeding four percent, a surplus contribution exceeding two percent of total revenue, or a dental loss ratio below seventy-five percent. Additionally, if the annual dental loss ratio is less than seventy-five percent, the dental insurer is required to refund excess premiums to covered individuals and groups, ensuring that a minimum percentage of premium funds is allocated to patient care rather than administrative costs.

Another new section mandates that dental insurers file an annual dental loss ratio report with the commissioner by April 30th each year, detailing the loss ratio information for the previous calendar year organized by market and product type. The commissioner is authorized to request data verification from the insurers and is required to make the information publicly available on the department's website, allowing for comparisons among dental insurers. The bill also specifies that these provisions do not apply to dental insurers with one thousand enrollees or fewer and sets an effective date for the new regulations to begin on July 1, 2027.