This bill mandates that insurance carriers offering dental benefit plans in New Jersey provide a specified level of coverage and reimbursement for covered services. Specifically, it requires that the coverage be actuarially equivalent to a full actuarial value determined by the Commissioner of Banking and Insurance, based on a standard population rather than the actual population served. Additionally, the Commissioner is tasked with developing guidelines to allow for minor variations in actuarial calculations to accommodate differences in estimates.

Furthermore, the bill stipulates that dental plans must reimburse providers for covered services at a minimum of 75 percent of the usual and customary charges, which will be determined regionally within the state. The Commissioner will establish procedures for these determinations, ensuring that assessments are made for at least three distinct areas: northern, central, and southern New Jersey. The act is set to take effect three months after its enactment and will apply to dental plans that are delivered, issued, executed, or renewed after that date.