This bill establishes new regulations for dental insurance in Oklahoma, including definitions for key terms such as "community benefit expenditure," "dental coverage plan," and "dental loss ratio." It mandates the Insurance Commissioner to create rules for calculating the dental loss ratio, which is the percentage of premium dollars spent on dental services versus administrative costs. Carriers are required to report their dental loss ratios annually, starting July 31, 2026, and must provide detailed data on enrollees and plan costs. The bill also outlines a process for identifying carriers with significantly deviating loss ratios and allows for penalties against those who fail to comply with reporting requirements.

Additionally, the bill requires the Insurance Commissioner to adopt rules for standardized identification cards for dental coverage plan members, ensuring that these cards contain essential information such as the covered person's name, plan number, and contact details for the carrier. The rules for these cards must be established by March 31, 2026. The act is set to take effect on November 1, 2025.