SB203 Summary

• Establishes a minimum 85 percent medical loss ratio (MLR) requirement for dental insurers, meaning at least 85% of premiums collected must be spent on customer claims for dental care services.

• Requires dental insurers to refund excess premiums to policyholders if they fail to meet the 85% MLR threshold, with refunds calculated and distributed within 30 days.

• Mandates annual reporting by insurers to the Commissioner of Insurance by March 31, including income, expenses, claims paid, and overhead costs, with all information publicly posted on the Department of Insurance website.

• Prohibits the Commissioner from approving proposed premium rate increases that exceed the annual percentage increase in the dental services consumer price index or that would result in surplus contributions exceeding 1.9% of premiums.

• Provides insurers the right to request a hearing to challenge the Commissioner's rate increase disapproval, with at least three policyholders able to testify about the increase's impact; effective October 1, 2025.