National Ag News
Congress is looking at crop insurance costs
The Congressional Budget Office says taxpayers could save 19 billion dollars in ten years by considering four cost-reducing options in the crop insurance program. They suggest looking at restrictions on how losses are quantified, reducing premium subsidies, cutting reimbursements for private insurers for administrative and operating costs, and changing the terms of risk sharing between the government and the private insurance companies that write the policies.
In a report issued Wednesday, the CBO says about one-fifth of crop insurance costs are paid by the producer through premiums, while four-fifths is paid by the federal government through premium subsidies.
Continue reading Congress is looking at crop insurance costs at Brownfield Ag News.
