Existing law prohibits the sale or offering for sale of any contract providing coverage for dental care at a rate which is excessive, defined as a ratio of losses to premiums collected which is less than 75 percent. Existing law exempts contracts providing coverage for dental care that are sold to small employers from this prohibition. (NRS 686B.125) Section 3 of this bill requires an insurer, organization or person licensed to engage in the business of insurance in this State that provides coverage for dental care in this State to report certain information concerning the losses and premiums collected by the insurer, organization or person. Section 3 authorizes the Commissioner of Insurance to examine the records and transactions of those insurers, organizations and persons to ascertain compliance with the prohibition on selling or offering for sale any contract providing coverage for dental care at an excessive rate and the reporting requirement. Beginning in 2026, if the Commissioner determines that an insurer, organization or person has violated the prohibition on charging excessive rates, section 3.5 of this bill: (1) requires the insurer, organization or person to submit an adjusted rate filing; and (2) authorizes the Commissioner to require the insurer, organization or person to submit a plan to compensate insureds or members who were affected by excessive rates.

Statutes affected:
As Introduced: 686B.030, 686B.112, 686B.125, 687B.600, 687B.670, 287.010, 287.04335, 608.1555, 695D.240
Reprint 1: 686B.125
As Enrolled: 686B.125
BDR: 686B.030, 686B.112, 686B.125, 687B.600, 687B.670, 287.010, 287.04335, 608.1555, 695D.240