As we approach the midterm elections on November 8th, Massachusetts residents may find themselves confused about the implications of question two. The ballot question concerns the regulation of dental insurance in the state and, if passed, will require insurance agencies to spend 83% of premiums on patient care rather than administrative costs. This law, if successful, could inspire a change in such policies across the country, as Massachusetts would be the first state to regulate dental insurance in this way.
By voting “yes” on this question, you would be voting in favor of the regulations. The Lipkowitz Dental team, the American Dental Association, and many local dental colleagues agree, a vote for “Yes” on Question 2 is in the best interest of Massachusetts citizens.
Breaking Down the Question
Question 2 is mainly about regulating the medical loss ratio for dental insurance companies. “Medical loss ratio” is a term that describes what percentage of insurance premiums are spent on claims and quality of care versus how much goes towards executive compensations, corporate profit, and administrative expenses. This percentage is regulated in medical insurance across the country, but no state has yet regulated this figure for dental insurance. It is estimated that dental insurance companies in the state currently spend about 45% of premiums on patient care, so an increase to 83% will be sure to make a huge difference in the value of your dental insurance plan! The proposed law also includes the specific ways in which a dental insurance company will be required to report their financials to the state, and is designed to take effect in January of 2024.
Contrary to what those opposed to the bill have been saying, your insurance premiums can’t be raised beyond the rise in the consumer price index without approval from the State of Massachusetts. Question 2 will actually reduce your out of pocket costs for your care.
High Impact Support
The editorial board of the Boston Globe recently came out in support of this measure: “It doesn’t take much to see how poorly dental insurers are serving people under the current system. More than half of Americans delay getting medical care — or avoid it altogether — because of burdensome costs, and the most frequently skipped form of care is dental work. …This needs to change, and passing this ballot measure is the first step.”
We are voting “YES” on Question 2 and encourage you to do the same. A “Yes” vote is good for you, and it’s better for your dental office. A ‘Yes’ vote will ultimately be better for the quality of care you receive in the future.
If your research into Question 2 has reminded you that you need to schedule a dentist appointment, contact Lipkowitz Dental Associates today!