OK SB1060

Establishes medical loss ratio (MLR) requirements for dental benefit plans, requiring a minimum of 80% for large group plans and 75% for individual and small group plans to be spent on patient care rather than overhead costs, effective January 1, 2028.

Requires dental insurers to file annual MLR reports with the Insurance Department organized by market and product type, with the Department posting reported ratios publicly by August 1 each year while keeping underlying data confidential.

Mandates dental plans provide annual rebates to enrollees on a pro rata basis if their MLR falls below the required thresholds, with rebates due by August 1 of the following year.

Prohibits dental plans from establishing rates that are excessive, inadequate, or unfairly discriminatory, with presumptive disapproval if administrative expense increases exceed the dental services Consumer Price Index increase, triggering a public hearing by the Insurance Department.

Exempts state Medicaid programs and state-sponsored health benefit plans from these requirements; effective date November 1, 2025.