Montana Gov. Greg Gianforte recently signed legislation enacting a dental loss ratio in the state.
Senate Bill 335, known as the Montana Dental Insurance Transparency and Accountability Act, requires dental insurers to file a DLR report with the state’s commissioner of securities and insurance each year, organized by market and product type. The commissioner will investigate insurers designated as outliers and may require refunds from insurers that continually fall outside of the average loss ratios, the ADA said June 3.
Similar bills were introduced in two previous legislative sessions but failed to make it out of committee. The Montana Dental Association used model language from the National Council of Insurance Legislators to avoid SB 335 from failing this session.
The National Council of Insurance Legislators approved model legislation for a dental loss ratio last year.
Montana is the third state to add a dental loss ratio so far this year, following North Dakota and Washington.
