Massachusetts voters shine a light on price transparency within the dental insurance industry as Question 2 Passes
The recent midterm elections saw a measure passed in Massachusetts requiring dental insurers to be upfront and transparent about patient benefit dollars.
BOSTON, MA, November 30, 2022 –Boston Herald– Bento is on a mission to deliver a better dental plan experience for all Americans. The AI-based platform centralizes the dental experience by connecting patients, dentists, and groups to upgrade how they interact with their dental benefits. Eliminating unknowns surrounding costs and preventing unnecessary confusion associated with traditional payer models is at its core.
Midterm Election Day on Tuesday, November 8, gave Massachusetts voters the power to determine how the state would move forward with important propositions on this year’s ballot, including Question 2 — a law that would create regulations for dental insurance. The Ballot Question is the first law of its kind in the U.S. and would require insurers to spend at least 83% of revenue from premiums on patient care rather than on administrative costs, salaries, and profits.
Capturing more than 70% of the votes, Massachusetts Question 2 passed. It will require insurance companies that don’t reach the required medical loss ratio to begin issuing rebates to their customers, starting in 2024.
Bento did not wait for passed legislation to provide a modern dental benefit experience with unprecedented transparency nationwide. Bento has created a patented solution that offers patients, employers, administrators, and dentists fewer hassles while still achieving accuracy during claims processing or ongoing management of patient membership plans.
The state of Massachusetts has been an early adopter when it comes to dental coverage for employees. The laws in this particular area are still evolving, but organizations can use Bento to build a dental benefit based on the unique needs of their business, resulting in a level of customization that saves money, while still providing high-quality coverage.
Bento is on a mission to provide the transparency, access, flexibility, and clarity Americans deserve with their oral health care. The company has received wide recognition across the dental industry earning endorsements from the American Dental Association, Florida Dental Association, Georgia Dental Association, Tennessee Dental Association, and Texas Dental Association among others. Based in Boston, MA and with offices in Miami, FL, Bento has established a large and rapidly developing number of dental providers in the US with over 360,000 access points nationwide. Bento empowers employers, groups, dentists, and administrators around the country to offer better dental solutions to their employees and patients. To learn more about how Bento is improving the dental benefit care experience, visit bento.net.