Nevada Senate Bill SB393

Nevada 2023 Regular Session

• Introduced: 3/27/23
• Refer: 3/27/23
• Report Pass: 4/24/23
• Engrossed: 4/26/23
• Refer: 4/26/23
• Report Pass: 5/19/23
• Enrolled: 5/29/23
• Chaptered: 6/1/23
• Passed: 6/1/23

Caption

Revises provisions related to dental insurance. (BDR 57-101)

Impact

The proposed changes would mandate that all licensed insurers, organizations, or individuals offering dental coverage in the state supply annual reports containing data on losses and premiums. Furthermore, the bill grants the Commissioner of Insurance broad powers to monitor compliance, including conducting examinations of records and transactions. If violations are determined, the Commissioner can require adjustments to rates and compensation plans for affected consumers, enhancing accountability among insurers and aiming to safeguard consumers from excessive pricing.

Summary

Senate Bill 393 proposes significant revisions to the regulations governing dental insurance in Nevada. The bill introduces a framework for determining when rates charged for dental coverage can be deemed excessive, specifically identifying a threshold ratio of losses to premiums collected of less than 75 percent as a standard for such determination. By enforcing these regulations, the bill is aimed at ensuring that consumers are provided with fair rates for dental insurance services, thereby enhancing consumer protection in this sector.

Contention

While the motivation behind SB393 is to protect consumers from unfair dental insurance pricing, there may be notable contention regarding the exemptions provided for small employers. These exemptions, which allow certain dental contracts sold to small employers to bypass these regulations, might lead to discussions about fairness and accessibility in insurance pricing across different employer sizes. Advocates for the bill assert that these regulations are essential for consumer welfare, while critics might argue that the exemptions create disparities in protections between larger and smaller entities.