Health insurance costs threaten farm viability

According to a new U.S. Department of Agriculture-funded study, lack of access to affordable health insurance is one of the most significant concerns facing American farmers, an overlooked risk factor that affects their ability to run a successful enterprise.   Three of four farmers and ranchers (73 percent) in the survey said that having affordable health insurance was an important or very important means of reducing their business risk. And just over half (52 percent) are not confident they could pay the costs of a major illness such as a heart attack, cancer or loss of limb without going into debt. Insights from the interviews supported the survey results. "During the course of interviews with farmers, many relayed stories about their family members or neighbors who had lost their farms or dairies due to catastrophic illness or injury when they were uninsured," Knudson said. Two out of three farmers and ranchers (64 percent) reported having a pre-existing health condition. With an average age of 58, farmers and ranchers are also vulnerable to higher insurance premiums due to age-rating bands. And among farmers and ranchers 18 to 64 years old, one out of four (24 percent) purchased a plan in their state's insurance marketplace.