Insurance; annual actual loss ratio report by dental carriers. (SB257)

Introduced By

Sen. Scott Surovell (D-Mount Vernon)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

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 HB 1132. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/09/2024Prefiled and ordered printed; offered 01/10/24 24104698D
01/09/2024Referred to Committee on Commerce and Labor
01/22/2024Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
01/24/2024Impact statement from SCC (SB257)
01/24/2024Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/25/2024Read second time and engrossed
01/26/2024Read third time and passed Senate (38-Y 0-N) (see vote tally)
02/13/2024Placed on Calendar
02/13/2024Read first time
02/13/2024Referred to Committee on Labor and Commerce
02/20/2024Reported from Labor and Commerce (22-Y 0-N) (see vote tally)
02/22/2024Read second time
02/23/2024Read third time
02/23/2024Passed House BLOCK VOTE (98-Y 0-N)
02/23/2024VOTE: Block Vote Passage (98-Y 0-N) (see vote tally)
02/28/2024Enrolled
02/28/2024Bill text as passed Senate and House (SB257ER)
02/28/2024Signed by Speaker
03/02/2024Signed by President
03/05/2024Impact statement from SCC (SB257ER)
03/11/2024Enrolled Bill Communicated to Governor on March 11, 2024
03/11/2024G Governor's Action Deadline 11:59 p.m., April 8, 2024
04/02/2024G Approved by Governor-Chapter 345 (effective 7/1/24)
04/02/2024G Acts of Assembly Chapter text (CHAP0345)

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