The Affordable Care Act contains an important but little discussed consumer protection: insurers are now required to spend a minimum amount of the premiums collected on health care services, as opposed to administration, marketing, and profits. This consumer protection has already resulted in billions of dollars in consumer benefits. Nevertheless, it applies only to health plans and not to dental plans. This report examines the arguments for and against a minimum “Medical Loss Ratio” and evaluates issues California policymakers and stakeholders will confront as they consider whether to adopt a minimum loss ratio for dental plans.