SB548 mandates transparency in dental health care insurance products in West Virginia.

SB548 requires dental health care insurance carriers to file annual medical loss ratio (MLR) reports with the Insurance Commissioner. These reports must include details such as the number of enrollees, plan cost sharing, deductible amounts, and annual maximum coverage limits. The bill also sets a minimum MLR of 85 percent, requiring carriers to provide annual rebates to enrollees if the MLR is not met. Additionally, the bill prohibits carriers from restricting payment methods to dentists and mandates that third-party network contracts comply with specific standards.

SB548 mandates transparency in dental health care insurance products in West Virginia.

SB548 requires dental health care insurance carriers to file annual medical loss ratio (MLR) reports with the Insurance Commissioner. These reports must include details such as the number of enrollees, plan cost sharing, deductible amounts, and annual maximum coverage limits. The bill also sets a minimum MLR of 85 percent, requiring carriers to provide annual rebates to enrollees if the MLR is not met. Additionally, the bill prohibits carriers from restricting payment methods to dentists and mandates that third-party network contracts comply with specific standards.