2018 Farm Bill and Crop Insurance

Click to See:

2014 Farm Bill and Crop Insurance

New in 2015 Crop Year:

 

  • Peanuts Revenue Plan - establishes MPCI peanut insurance based on revenue

                                             per acre (uses farmer yield and market-based peanut

                                             price to guarantee revenue per acre)

 

  • Different Coverage Levels allowed on Irrigated and Non-Irrigated land of the

    same crop

 

  • Separate Enterprise Units allowed on Irrigated and Non-Irrigated land of the

    same crop

 

  • New Federal Programs to replace Direct Payments:

 

                 ARC (Area Risk Coverage) and PLC (Price Loss Coverage)

         

         ARC - Claim Payments triggered by drop in a combination of yield and price;

                    May use individual farm yield for all crops combined or by county yield

                    on a crop by crop basis; Cannot use SCO if using ARC (see info on

                    SCO below)

 

         PLC - Claim Payments triggered by drop in commodity price only; Allows

                    farmers to also enroll in SCO (Supplemental Coverage Option)

 

                                      SCO (Suppplemental Coverage Option)

 

         SCO - Supplements existing MPCI coverage with additional county coverage

                    in years where county-wide losses exceed 14%; Available on all MPCI

                    insured crops to farmers who choose PLC option with FSA; Only

                    available on cotton if STAX is NOT used

              

     

                 COTTON: STAX or SCO (Supplemental Coverage Option)

 

        STAX - provides coverage based on the county-wide revenue for cotton for

                     the year; may be used alone or along with a regular cotton MPCI crop

                     insurance plan; Farmer may NOT cover cotton with both STAX and

                     SCO.

 

        SCO (Supplemental Coverage Option) - See Above