A linchpin of the farm safety net, crop insurance, is now getting a makeover thanks to the recently enacted One Big Beautiful Bill Act. Increased premium supports, expanded coverage options, and, for beginning farmers and ranchers, extra support on top of the current ten percent they now get for five years.
“With the new One Big Beautiful Bill that was passed, we are now able to extend those benefits for ten years instead of five,” says Risk Management Agency Administrator Pat Swanson. “The first two years, they’re going to get 15 percent additional support, and the third year, they get 13 percent, and the fourth year, 11 percent, and then the fifth year through the tenth year, they’ll have ten percent, like they had before.”
And, for all producers, Swanson says, “We have additional premium support on optional units and basic units, which is, when you keep each field separate when it comes time to calculate the claims, and enterprise units, as well, will also get additional premium support.”
The improvements will be retroactive to July 1, 2025.
“Because, in the crop insurance ‘world,’ that is our fiscal year. That’s our reinsurance year, and it was important for us, as we were implementing this, that we did not cross over two different crop years.”
Swanson says it’s also important for crop insurance agents so they can have accurate quotes to make informed decisions for the fall.
