NEWS
Farmers Squeezed by Health Costs
Elizabeth Williams DTN Special Correspondent
Thu Dec 24, 2015 06:47 AM CST

INDIANOLA, Iowa (DTN) -- As farmers question every line item in their 2016 budget to preserve working capital, lenders advise cutting "family living expense." But that category often includes health insurance and those expenses keep ratcheting higher.

The average Minnesota grower spent $64,121 on family living in 2014, including more than $10,000 for insurance and health care expenses, according to the state's farm business records. Groceries, the second-largest item, cost only about $8,000 annually.

A Morgan Stanley survey of commercial insurance brokers shows a 12.6% increase for individual insurance policies in 2016 and a 13.5% increase for small group rates. ...

Quick View
Related News Stories
(none currently available)