Dental benefit plans; establishing formula for medical loss ratio; exempting certain dental plans; requiring annual rebate for certain plan years by certain plans. Effective date.

SB 1060 establishes minimum medical loss ratio (MLR) standards for dental insurance plans sold in Oklahoma. It requires insurers to spend at least 75% of premium revenue (for individual/small group plans) or 80% (for large group plans) on actual dental care and quality improvements, rather than administrative costs. If these thresholds are not met, insurers must issue annual rebates to enrollees by August 1 of the following year. The law applies to most dental benefit plans but excludes Medicaid and state-sponsored health plans, and mandates annual reporting to the Oklahoma Insurance Department.