PROVIDENCE – Delta Dental of Rhode Island today announced that “2006 was another year of record-breaking growth and financial strength” for the company, the state’s largest dental insurer.
Enrollment grew by 11 percent over the year to more than 655,000, as the company added more members than in the previous four years combined. Much of that growth came when Delta Dental won the state employee contract, the company said.
“Our company offers the right combination of broad access to dentists, innovative products and superior service,” President and CEO Joseph A. Nagle said in a statement.
Administrative costs per member declined by nearly 10 percent last year, while over the past 15 years, premiums increased at just over 4 percent per year, Delta Dental said.
“This careful stewardship has enabled the company and its subsidiaries to diversify by developing new product lines and expanding geographically to respond to market opportunities,” the company said.
Last year’s net gain of $4.4 million enabled Delta to grow its reserves to more than $54 million, it said.
Delta said it plans to introduce special coverage plans for at-risk populations, such as pregnant women and patients with diabetes or heart diseases, and to “embark on a major oral health campaign.”
“We have a responsibility as the state’s largest dental insurer to develop plan designs that will improve both oral and overall health for the greatest number of people in the most affordable manner,” Nagle said, citing the potential usefulness of the company’s 35 years of historical data.
The Delta Dental of Rhode Island Fund also marked a good year, the company said, reaching its full funding target of $3 million last year and disbursing grants to organizations including the Jeanne Jugan Residence, a Pawtucket nursing home for low-income seniors; and The Molar Express, a mobile dental-care unit for low-income children.
Additional information on Delta Dental of Rhode Island and its services is available at www.deltadentalri.com.
