A news release on Wednesday from USDA’s Risk Management Agency (RMA) stated that, “[RMA] today announced new benefits available to military veterans with farms or ranches who are seeking federal crop insurance coverage, including exemptions from fees and additional coverage options provided by the 2018 Farm Bill and effective for the 2019 crop year.
“For veterans seeking crop insurance, the 2018 Farm Bill provides:
- An exemption from paying the administrative fee for catastrophic and additional coverage policies;
- An additional 10 percent premium subsidy for additional coverage policies that have premium subsidy;
- The ability to use another person’s production history for the specific acreage transferred to veterans who previously were involved in the decision making or physical activities of crop production on the acreage; and
- An increase in yield adjustment, from 60 to 80 percent of the applicable transitional yield.
“‘The 2018 Farm Bill provides improved benefits for military veterans interested in pursuing opportunities in production agriculture,’ said RMA Administrator Martin Barbre. ‘RMA offers great risk management tools for beginning farmers and ranchers, and we’re excited to now offer these tools to our veterans who have so selflessly served our country.'”
The RMA update added that, “On December 20, 2018, President Trump signed into law the 2018 Farm Bill, which provides support, certainty and stability to our nation’s farmers, ranchers and land stewards by enhancing farm support programs, improving crop insurance, maintaining disaster programs and promoting and supporting voluntary conservation. RMA is committed to implementing these changes as quickly and effectively as possible, and today’s updates are part of meeting that goal.
“For more information, visit rma.usda.gov or contact an approved insurance provider.”
