Members of 40 Square Cooperative Solutions enjoy benefits the co-op offers through their purchase of voting stock and common stock. The cooperative is governed by a board of directors, elected by its members.
To become a member of the co-op, according to state law, federal law and co-op bylaws, you must be an employer who:
- Actively works in production agriculture in Minnesota
- Files either Form 1065 or Schedule F with your income tax return, OR
- Provides direct services to production agriculture in Minnesota
- This includes farm corporations and businesses who predominately receive their income from providing their services to production agriculture
- Purchases Voting Stock in an amount of $100.00 (one-time, only for the farm/business/employer)
- Purchases Common Stock of $1,000 over the first year (one-time, only for the farm/business/employer)
- Commits to three-consecutive years of participation, or risks forfeiting all or a portion of the total $1,100 investment
- Has a minimum of one “Common Law” employee (someone who you provide a W-2, does not have to be a full-time person, can be a spouse doing the farm books)
Each farm/business/employer is billed for premiums on a monthly basis:
- A statement is sent to the employer (member) for all covered lives (employer and employees and their covered dependents)
- Payment is by automatic ACH withdrawal
- Because 40 Square is self-insured, there is no requirement to cost-share with employees
We offer six health plans to choose from with health savings account (HSA) compatible options available, and deductibles ranging from $1,500-$6,550.* You can find more about 40 Square’s health plan coverage options here.
*Deductibles are subject to change from year-to-year.