HF 694

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to insurance; no-fault auto; regulating 
  1.3             income loss benefits to senior citizens; amending 
  1.4             Minnesota Statutes 2000, section 65B.491. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 2000, section 65B.491, is 
  1.7   amended to read: 
  1.8      65B.491 [SENIOR CITIZENS.] 
  1.9      After August 1, 1987, No plan of reparation security issued 
  1.10  to or renewed with a person who has attained the age of 65 years 
  1.11  may provide coverage for wage income loss reimbursement 
  1.12  that benefits unless the insured will not reasonably be expected 
  1.13  to be able to receive.  It is the responsibility of the person 
  1.14  issuing or renewing the plan to inquire as to the applicability 
  1.15  of this section elects to purchase this coverage.  The 
  1.16  reparation obligor shall notify a person of the option to 
  1.17  purchase this coverage at the time of sale or the first renewal 
  1.18  of the policy after the insured has attained the age of 65 
  1.19  years.  The rate for any plan for which coverage has been 
  1.20  excluded or reduced pursuant to this section must be reduced 
  1.21  accordingly.  This section does apply to self-insurance.