Nevada Gov. Joe Lombardo signed into law June 1 a medical loss ratio that requires dental payers to spend at least 75 percent of premium revenue on dental care.
Dental plans that do not meet this requirement could be asked by Insurance Commissioner Scott Kipper to decrease rates charged to patients or otherwise compensate those affected by the excessive rates, according to a June 7 news release from the American Dental Association.
Dental insurers in the state must also report their medical loss ratio to Mr. Kipper each year. The commissioner can then investigate any reporting discrepancies and confirm whether an insurer falls into the excessive rate category.
Interest in medical loss ratios for dental insurers has grown in recent months after Massachusetts voters greenlighted a similar medical loss ratio in November. Rhode Island and Connecticut most recently proposed their own medical loss ratios, but the ADA said bills have been introduced in 12 states.