Provides a criminal background check procedure for for-hire intrastate passenger transportation services.
Impact
The primary impact of the bill on state laws revolves around the regulatory oversight of dental insurance practices. By instituting mandatory reporting, the legislation is positioned to provide a baseline of data that could facilitate the determination of a fair and viable minimum loss ratio. This could enhance consumer protections, ensuring that a reasonable portion of premiums is utilized for actual dental care services rather than administrative expenses or profits. However, this initiative will also impose new compliance burdens on dental insurance carriers, which could lead to operational changes within the industry as they adjust to the newly established reporting requirements.
Summary
Bill S2799, known as the Dental Insurance Loss Ratio Reporting and Study Act, seeks to establish a new framework for evaluating dental insurance by requiring carriers to report their incurred claims and earned premiums. This legislation aims to inform the establishment of a minimum dental loss ratio, which is a measure of the percentage of premium dollars allocated to claims versus administrative costs. The bill will require dental insurance providers to file detailed actuarial memorandums with the health insurance commissioner over a transition period from 2025 to 2027, with the intent of developing a comprehensive understanding of the market dynamics in the dental insurance sector.
Contention
Potential points of contention surrounding S2799 may arise from discussions about the financial viability of smaller dental insurance carriers who may struggle with the costs associated with compliance. The procedural requirements could inadvertently push some providers out of the market, leading to reduced competition and potentially higher premiums for consumers. Moreover, there is concern regarding the adequacy of the proposed timelines for data reporting and the impact of these regulations on service availability and costs. Stakeholders in the dental insurance community might express differing opinions on the necessity and effectiveness of the established measures.
Resolution Granting The Claims Commissioner An Extension Of Time To Dispose Of Certain Claims Against The State Pursuant To Chapter 53 Of The General Statutes.
Resolution Granting The Claims Commissioner An Extension Of Time To Dispose Of Certain Claims Against The State Pursuant To Chapter 53 Of The General Statutes.