HB 1132

Abstract

Insurance; dental carriers; annual report. Requires each dental carrier, beginning in 2025, to annually, on or before April 30, file with the State Corporation Commission a report that includes the actual loss ratio, defined in the bill, for the preceding calendar year and any such other information as the Commission may require. The bill requires the Commission to post such reports on its website. The bill requires the Bureau of Insurance to evaluate the effectiveness of informing the public on the information being reported and to make recommendations, if any, on the continuation or modification of the obligation of dental carriers to report such information. The bill also requires the Commission to convene a work group of interested stakeholders to determine if any revisions are necessary to the Code of Virginia regarding ethics and fairness in dental carrier business practices and of health care providers of dental services. The work group is required to report its recommendations to the Chairs of the House Committee on Labor and Commerce and the Senate Committee on Commerce and Labor on or before October 1, 2024. This bill is identical to SB 257.

Insurance; dental carriers; annual report. Requires each dental carrier, beginning in 2025, to annually, on or before April 30, file with the State Corporation Commission a report that includes the actual loss ratio, defined in the bill, for the preceding calendar year and any such other information as the Commission may require. The bill requires the Commission to post such reports on its website. The bill requires the Bureau of Insurance to evaluate the effectiveness of informing the public on the information being reported and to make recommendations, if any, on the continuation or modification of the obligation of dental carriers to report such information.

Insurance; dental carriers; annual report.Requires each dental carrier, beginning in 2025, to annually, onor before April 30, file with the State Corporation Commission a reportthat includes the actual loss ratio, defined in the bill, for the preceding calendar year and any such other information as the Commissionmay require. The bill requires the Commission to post such reportson its website. The bill requires the Bureau of Insurance to evaluatethe effectiveness of informing the public on the information beingreported and to make recommendations, if any, on the continuationor modification of the obligation of dental carriers to report suchinformation. The bill also requires the Commission to convene a workgroup of interested stakeholders to determine if any revisions arenecessary to the Code of Virginia regarding ethics and fairness indental carrier business practices and of health care providers ofdental services. The work group is required to report its recommendationsto the Chairs of the House Committee on Labor and Commerce and theSenate Committee on Commerce and Labor on or before October 1, 2024.