S. 4215 — AFFIRM Act of 2026

This section requires the Secretary of Agriculture to annually disclose to the public specified information on participants in and providers under the Federal Crop Insurance Program, notwithstanding existing confidentiality requirements in section 502(c)(1). (1) For each individual or entity that obtained a federally subsidized crop insurance, livestock, or forage policy during the previous reinsurance year (excluding those covered only by a catastrophic risk protection plan under section 508(b)): the name, amount of premium subsidy received from the Federal Crop Insurance Corporation, and federal portion of indemnities paid on associated policies. (2) For each approved insurance provider: underwriting gains earned in the program and amounts paid by the Corporation for administrative and operating expenses, the federal portion of indemnities and reinsurance, and any other purpose.

This section limits Federal Crop Insurance Corporation premium subsidies for additional coverage by (1) prohibiting such payments for any person or legal entity with an average adjusted gross income (as defined in 7 U.S.C. 1308–3a(a)) greater than $250,000; and (2) capping such payments at $40,000 per reinsurance year per person or legal entity. (As background: The Federal Crop Insurance Program subsidizes premiums farmers pay for policies protecting against crop production losses, with additional coverage providing protection levels above the minimum catastrophic level.)

This section prohibits the Federal Crop Insurance Corporation from providing premium subsidies for policies or plans of insurance based on the actual market price of an agricultural commodity at harvest (i.e., harvest price policies), beginning with the 2027 reinsurance year. (Thus, producers purchasing such policies must pay the full premium without federal subsidy.)

This section establishes a cap on the target average rate of return for reinsured companies (i.e., private insurers participating in the Federal Crop Insurance Program) at 8.9% of retained premiums for the 2027 reinsurance year and each subsequent reinsurance year. (As background, the Federal Crop Insurance Corporation reinsures approved private insurers that sell and service federally subsidized crop insurance policies to agricultural producers.)

This section establishes a cap on total reimbursements to crop insurance providers for administrative and operating costs at $900 million for the 2027 reinsurance year, notwithstanding existing reimbursement formulas. For 2028 and subsequent reinsurance years, the cap adjusts annually by the inflation factor specified in the 2011 Standard Reinsurance Agreement. (As background, the Federal Crop Insurance Corporation reimburses approved insurance providers for such costs incurred in delivering the Federal Crop Insurance Program to agricultural producers.)