Bill > H584

This bill seeks to amend the General Laws by inserting a new chapter (Chapter 176V) that regulates dental benefit plans in Massachusetts. The key provisions of the bill include: 1. Defining key terms such as "carrier" (insurers, non-profit medical service corporations, dental service corporations, HMOs, etc. offering dental plans), "commissioner" (the insurance commissioner), "connector" (the state health insurance exchange), and "dental benefit plans" (various types of standalone dental plans). 2. Requiring the insurance commissioner to adopt regulations regarding eligibility criteria for dental benefit policies and to require carriers to submit information on the current and projected medical loss ratio (the percentage of premiums spent on medical claims) and detailed financial information. 3. Establishing medical loss ratio requirements, with carriers required to issue refunds if the aggregate medical loss ratio falls below 80% starting in 2019. 4. Requiring carriers to submit annual comprehensive financial statements detailing various cost and financial information, which the insurance division must make public and report on annually. 5. Authorizing the insurance commissioner to promulgate regulations to establish a uniform methodology for calculating and reporting medical loss ratios for dental benefit plans.

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https://malegislature.gov/Bills/190/H584