Medical Loss Ratios for Dental Insurers
After the great success of Massachusetts Ballot Question 2 in November 2022, legislation dealing with medical loss ratios for dental insurers was introduced in twelve states this year and was enacted in Arizona, Colorado, and Nevada and is still alive in Rhode Island. Legislation passed one house in Oklahoma. The legislation that was enacted provides the state government the power to regulate premiums that are excessive but does not create a mandatory rebate requirement as in Massachusetts.
On insurance reform, a New Mexico bill enacted prior authorization reform, allowed designation of benefits, banned payment by virtual credit card and restricted third-party network leasing.
Restrictions on third party network leasing and the use of virtual credit cards also were enacted in Illinois and Minnesota.
Impact on General Dentistry: AGD can help your constituent advocate for medical loss ratio legislation, dental insurance reform and other state legislation that will improve the delivery of oral health care to your patients.
On insurance reform, a New Mexico bill enacted prior authorization reform, allowed designation of benefits, banned payment by virtual credit card and restricted third-party network leasing.
Restrictions on third party network leasing and the use of virtual credit cards also were enacted in Illinois and Minnesota.
Impact on General Dentistry: AGD can help your constituent advocate for medical loss ratio legislation, dental insurance reform and other state legislation that will improve the delivery of oral health care to your patients.