House Bill No. 2805 aims to regulate dental benefit plans in Oklahoma by establishing a medical loss ratio (MLR) framework, which mandates that a certain percentage of premium funds collected by insurers be spent on patient care rather than administrative costs. The bill defines key terms such as "earned premium," "medical loss ratio," and "unpaid claim reserves," and requires dental plans to report their MLR to the Oklahoma Insurance Department annually. Additionally, the bill stipulates that if a dental plan's MLR falls below 85% for large groups or 80% for individual and small groups, it must provide annual rebates to enrollees. The bill also outlines the process for data verification and mandates public disclosure of MLR data to facilitate comparison among carriers.

Furthermore, the bill amends existing law regarding dental plans, specifically modifying the definition of "covered services" to clarify reimbursement conditions. It prohibits dental plans from establishing rates that are excessive, inadequate, or unfairly discriminatory, and requires the Insurance Commissioner to promulgate rules for rate filings. The bill also mandates that dental insurers file annual reports on their dental loss ratios starting July 1, 2026, and ensures that the reported data is made publicly available while maintaining the confidentiality of underlying claims and premiums. The act is set to take effect on November 15, 2025.