DENTAL LOSS RATIO ACT Senate SponsorsSen. Laura Fine-Julie A. Morrison and Laura M. Murphy 1/7/2025SenateSession Sine Die New Act215 ILCS 110/34from Ch. 32, par. 690.34Creates the Dental Loss Ratio Act. Sets forth provisions concerning dental loss ratio reporting. Provides that a health insurer or dental plan carrier that issues, sells, renews, or offers a specialized health insurance policy covering dental services shall, beginning July 1, 2023, annually submit to the Department of Insurance a dental loss ratio filing. Provides a formula for calculating minimum dental loss ratios. Sets forth provisions concerning minimum dental loss ratio requirements. Provides that the Department may adopt rules to implement the Act. Provides that the Act does not apply to an insurance policy issued, sold, renewed, or offered for health care services or coverage provided as a function of the State of Illinois Medicaid coverage for children or adults or disability insurance for covered benefits in the single specialized area of dental-only health care that pays benefits on a fixed benefit, cash payment-only basis. Defines terms. Amends the Dental Service Plan Act. Provides that a dental service plan corporation shall not disburse during any one year (rather than shall not disburse during any one year, except upon the approval of the Director of Insurance) a sum greater than 20% of payments received from subscribers during that year as administrative expenses. Effective immediately. 2/3/2023SenateFiled with Secretary by Sen. Laura Fine 2/3/2023SenateFirst Reading 2/3/2023SenateReferred to Assignments 2/7/2023SenateAdded as Chief Co-Sponsor Sen. Julie A. Morrison 2/8/2023SenateAdded as Chief Co-Sponsor Sen. Linda Holmes 2/10/2023SenateSponsor Removed Sen. Linda Holmes 2/14/2023SenateAssigned to Insurance 2/23/2023SenateAdded as Co-Sponsor Sen. Laura M. Murphy 3/10/2023SenateRule 2-10 Committee Deadline Established As March 24, 2023 3/23/2023SenateRule 2-10 Committee Deadline Established As March 31, 2023 3/31/2023SenateRule 3-9(a) / Re-referred to Assignments 1/7/2025SenateSession Sine Die