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Prevent Plant ‘Top Up’ Payments to be Paid in October

Farmers who filed a prevent plant claim will automatically receive a ‘top-up’ payment. A ten percent payment will be made to farmers with Yield Protection and Revenue Protection with the Harvest Price Option. Those with Revenue Protection will receive 15 percent.

“This has been such a tremendously tough year for producers and frankly, insurance guarantees aren’t as high as we’d like them based on the low commodity prices,” said Martin Barbre, administrator, Risk Management Agency. Barbre says the crop insurance companies will begin making the ‘top-up’ payments in mid-October. “I applaud the companies for stepping up and signing this agreement to bring these important funds to their producers.

USDA RMA Press Release

Crop Insurance Interest Accrual Deferred

USDA’s Risk Management Agency will defer accrual of interest for all farmer’s spring 2019 crop year premiums, due to the extreme weather conditions, for two months or until November 30. That’s for all policies with a premium billing date of August 15. According to the USDA, any premium not paid by one of these new deadlines will accrue interest consistent with terms of the policy. Without the deferral, policies with an August 15 premium billing date would have an interest attach starting October 1 if policies weren’t paid by September 30.

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