The bill introduces the "Dental Insurance Loss Ratio Reporting and Study Act" to Title 27 of the General Laws, which mandates dental health insurance carriers to report specific financial information to the health insurance commissioner. The new chapter requires carriers to file an actuarial memorandum by March 1, 2025, for the reporting years 2023 and 2024, and by March 1, 2026, for the reporting year 2025. This memorandum must disclose incurred claims and earned premiums for the preceding calendar year. The bill defines key terms such as "dental health insurance carrier," "dental loss ratio" (DLR), "earned premiums," "incurred claims," and "reporting year." It also exempts dental insurance plans issued to self-insured groups or where the carrier acts as a third-party administrator from the reporting requirements.

Additionally, the bill instructs the commissioner to promulgate necessary regulations by January 1, 2025, and to provide the General Assembly with an analysis and recommendations regarding a minimum dental loss ratio by October 1, 2026. The recommendations should also consider requiring carriers to offer a full range of comprehensive dental benefit plans. To cover the costs associated with this study and analysis, the bill allows the commissioner to assess an annual fee on each dental health insurance carrier, not exceeding a total of $150,000 per year for all carriers during the years 2023, 2024, and 2025. The fees collected will be deposited as general revenue. The act will take effect upon passage.