Cargill To Contribute to Health Savings Accounts for Farmers Under New Program
Officials for Minnesota-based Cargill on Thursday said that the grain marketing company will contribute to tax-free health savings accounts for farmers who promise to sell a portion of their grain to the company, the New York Times reports.
Under the Harvest Health program, Cargill will contribute to HSAs eight to 10 cents per bushel of grain purchased, with a maximum contribution of $2,700 for an individual and $5,450 for a family. Farmers in 18 states are eligible for the program (Ruethling, New York Times, 1/20). Farmers who seek to participate in Harvest Health must enroll in HSAs through Wells Fargo and in high-deductible health plans through a Cargill online partnership or a private health insurer.
Officials for Cargill said that they decided to establish Harvest Health because farmers have raised concerns about high health care costs (Karnowski, AP/Miami Herald, 1/20). Cargill officials said that Harvest Health represents the first such program in the nation.
Dean Grossmann, vice president for sales and marketing at Cargill AgHorizons -- the grain marketing unit at Cargill -- said, "Today, farmers have more and more choices where they can deliver their grain. We have to earn our customers' business" (New York Times, 1/20).