Bento is stepping in to fill an forthcoming gap once Massachusetts implements its medical loss ratio for dental insurers.
Bento offers self-funded insurance coverage options to reduce inefficiencies and unnecessary costs.
Massachusetts established a first-of-its-kind law last year that requires dental insurers to spend at least 83 percent of premium dollars on dental services or refund the difference to patients, among other requirements. Following the law’s passage, Guardian stated it would no longer sell policies to companies with fewer than 25 employees once the medical loss ratio is implemented in January.
Becker’s recently spoke with several Bento execs — CEO Ram Sudiredd, Chief Sales Officer Chip Huffman and Senior Director of DSO Sales Ryan Chan — about how businesses are reacting to the medical loss ratio, how the new law affects insurers and how they plan to expand their reach.