Dental insurance; set medical loss ratio for insurers

HB 212 requires dental insurers in Alabama to spend at least 75% of premiums on actual dental care claims for individual plans and 83% for group plans. Insurers failing to meet these "dental loss ratio" thresholds must refund excess premiums to policyholders. The bill mandates annual financial reporting to the Insurance Commissioner, including detailed breakdowns of claims payments, premiums collected, and excluded overhead expenses (like marketing or administrative costs). These reports must be made publicly available on the Department of Insurance website, increasing transparency for consumers. The bill applies specifically to standalone dental insurance plans, excluding self-funded plans and medical insurance bundles.