The bill introduced as "The Rhode Island Fair Share for Dental Care Act" mandates that carriers offering dental benefit plans must annually report detailed financial information to the health insurance commissioner. This information includes current and projected medical loss ratios for in-state claims, total claims, administrative expenses, and various financial data such as income, underwriting, marketing, and claims operations expenses. The bill specifies that certain expenses, including financial administration, marketing, distribution, claims operations, medical administration, network operations, charitable expenses, board fees, taxes, and payroll, are to be considered administrative costs for the purpose of calculating the medical loss ratio.

If a carrier's annual medical loss ratio for in-state or total claims falls below 85%, they are required to refund the excess premium to the covered individuals and groups. Carriers must notify eligible individuals and groups within 30 days and issue refunds or credits for the relevant twelve-month period. The commissioner may waive or adjust this requirement if refunds would financially impair the carrier. The act is set to take effect on January 1, 2025.