MN HF3355

Adjusts dollar amounts in Minnesota's no-fault auto insurance law to reflect inflation, increasing basic economic loss benefits from $40,000 to $94,300 per person, with medical expenses increased from $20,000 to $62,900 and income/services loss from $20,000 to $31,400.

Increases weekly maximum disability and income loss benefits from $250 to $600 per week, and adjusts other weekly maximums including replacement services loss ($200 to $300), survivors economic loss ($200 to $600), and survivors replacement services loss ($200 to $600).

Raises residual liability insurance limits from $30,000/$60,000 to $78,600/$157,200 for bodily injury and from $10,000 to $31,400 for property damage; increases uninsured/underinsured motorist coverage limits from $25,000/$50,000 to $78,600/$157,200.

Simplifies noneconomic damages limitation by removing the $4,000 threshold test and instead allowing recovery only when injury results in significant permanent disfigurement, significant permanent injury, death, or inability to engage in usual daily activities for 60 or more days.

Establishes automatic inflation adjustment mechanism using Consumer Price Index (CPI-U) with adjustments effective January 1 of each odd-numbered year in $100 increments, with the commissioner to announce changes by September 30 of the preceding year; effective August 1, 2013.