Almost half of farmers (45 percent) said they worried they would have to sell off land or other farm assets in order to pay for healthcare-related costs, according to a survey of 1,062 farmers across the country by the University of Vermont.
“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,” says the report. “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.”
The average age of the farmers interviewed was 58, with two out of three (64 percent) reporting a pre-existing health condition. Older farmers are susceptible to higher premiums because of age-rating bands.