Dental insurance; set medical loss ratio for insurers
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill requires dental insurance companies operating in Alabama to spend a specific percentage of their premium income – either 75% for individual plans or 83% for group plans – on covering dental care services for their policyholders. Insurers that fail to meet this ‘dental loss ratio’ must refund the excess premiums to their customers. The bill also mandates that insurers report their income and expenses to the state’s Insurance Commissioner and make this information publicly available, and requires a rebate to policyholders if the loss ratio is below the mandated level.
Bill text
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