Requires annual reporting on dental loss ratio data by dental insurance carriers; establishes minimum dental loss ratio thresholds and mandates rebates to policyholders when applicable threshold not met by carrier.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill requires New Jersey’s dental insurance companies to report annually on how much of their revenue is spent on dental care versus administrative costs and marketing. It sets minimum standards, called ‘loss ratios,’ that insurers must meet, ensuring a sufficient portion of premiums goes towards patient dental services. If an insurer fails to meet these minimum loss ratio requirements, they are required to provide rebates back to their policyholders. This aims to increase the value and affordability of dental insurance coverage for New Jersey residents.
Bill text
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Primary sponsor
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