The new year will mean new laws going into effect in Minnesota. A few notable laws passed during the last two legislative sessions will take effect Jan. 1. 

They include measures meant to help increase damage disclosure for used vehicle purchases and improve insurance coverage for newborns.

Here’s what to know about Minnesota’s new laws:

New salvage title regulations

A law passed last legislative session and taking effect in the New Year revolves around salvage titles for used vehicles, which indicate if the vehicle has been deemed a total loss by an insurance company.

The new law requires that a written notice of the salvage title be provided by dealers and be signed by purchasers. The law also eliminates a previous loophole that allowed cars valued at less than $9,000 to hold a clean title despite meeting the definition for a salvage title.

Postnatal health care coverage

Passed in 2021, a new law expands requirements for postnatal coverage for both public and private health insurers. Among its provisions, the law requires insurance to cover a "comprehensive postnatal visit with a healthcare provider" no more than three weeks after birth.

And between three and 11 weeks after birth, insurers must cover any visits recommended by a a healthcare provider, as well as another comprehensive visit at 12 weeks post birth.

Pension and retirement changes for teachers

Among the laws relating to pensions and retirement policy passed last legislative session is one revolving around teachers coming from out-of-state.

Under the new law, teachers will be allowed to purchase service credit for time they have worked in other states, allowing them to count that time toward eligibility for pensions and retirement.

New franchise renewal dates

A new law will change franchise renewal deadlines for businesses registered on or following Jan. 1.

The new deadline will be the anniversary of the initial registration date. The current deadline is 120 days after the end of the fiscal year.

Annuity sales changes

A new law passed last session increases requirements for insurance agents selling annuities. The law aims to better protect consumers, specifically older adults.

Under the new law, insurance agents must have a “reasonable basis” for their recommendation for an annuity policy. They must also disclose their current licensing status and how they will be compensated for the sale. This also includes possible conflicts of interest, including any quotas and sales incentives the agency is facing.

Finally, insurance agents must document the basis for their recommendation. 

To read this original story and more news, follow this link to the Bring Me The News website.