Health Insurance for a CPA?

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  • tacks
    Senior Member
    • Feb 2009
    • 276

    #1

    Health Insurance for a CPA?

    Does anyone know where a single self employed CPA might seek to obtain health insurance? I know the AICPA & PICPA (PA state institute) offer it to their members but this individual is not a member of these organizations.

    I'm wondering if there is some way for a CPA with an active license to obtain coverage for a reasonable price -- meaning a better plan that what is offered to the general public.

    Thanks for reading.
  • ChEAr$
    Senior Member
    • Dec 2005
    • 3872

    #2
    Originally posted by tacks
    Does anyone know where a single self employed CPA might seek to obtain health insurance? I know the AICPA & PICPA (PA state institute) offer it to their members but this individual is not a member of these organizations.

    I'm wondering if there is some way for a CPA with an active license to obtain coverage for a reasonable price -- meaning a better plan that what is offered to the general public.

    Thanks for reading.
    Lower rates usually attach to a group plan, and a single fellow can't be a group.
    ChEAr$,
    Harlan Lunsford, EA n LA

    Comment

    • AuditorTurnedGood
      Senior Member
      • May 2008
      • 326

      #3
      Any way

      to make that CPA a group by adding a spouse who works in the business to the plan? This is what I did - we have a group of 2. (I'm an S-Corp, for reference). 2 is a small risk pool, but it was still cheaper than an individual policy. Just a wayward thought.

      ATG
      "Congress has spoken to this issue through its audible silence."
      Anyone ever notice they beat the daylights out of the definition of a child, but they don't spend much time at all defining "parent"?

      Comment

      • Uncle Sam
        Senior Member
        • Jul 2006
        • 1461

        #4
        Health Insurance for CPA

        I did the same thing - put my wife on payroll - for a Sch C business - put the insurance policy in her name - get to write off the whole thing off the C.
        I would suggest you get in touch with business associations that offer group health insurance plans, such as U. S. Federation of Small Businesses.(usfsb.org). Also there's an association (I'm not a member of) of National Association of Self-Employed.
        But as has been suggested - since you are a CPA - you really should become a member of an association.
        Uncle Sam, CPA, EA. ARA, NTPI Fellow

        Comment

        • Lion
          Senior Member
          • Jun 2005
          • 4698

          #5
          Join

          Compare the price of health insurance available to him now with that offered by a group he's eligible to join, such as AICPA. It might be well worth the membership fee, especially factoring in any other benefits of membership. Where does he get his E&O insurance?

          Comment

          • JoshinNC
            Senior Member
            • Feb 2006
            • 1180

            #6
            Not so fast

            Originally posted by ChEAr$
            Lower rates usually attach to a group plan, and a single fellow can't be a group.
            Don't know the laws in AL but here in NC a single person can be a group, just needs to be an LLC or Corp (S or C).

            Comment

            • SFBOB
              Senior Member
              • Dec 2006
              • 162

              #7
              Large Deductable $$$$$ save money

              Mutual Of Omaha has offered these policies in the past. Most of us can afford Bactrim of a bladder infection, however Brain Surgery is pretty expensive.
              I am not trying to be a joker, just wanted to point out the savings available by shopping for policies with deductables.

              Comment

              • Jiggers
                Senior Member
                • Sep 2005
                • 1973

                #8
                Can't be a group?

                Originally posted by ChEAr$
                Lower rates usually attach to a group plan, and a single fellow can't be a group.
                I don't know about this. I have seen some very large people that would qualify as a group!!!
                Jiggers, EA

                Comment

                • Davc
                  Senior Member
                  • Dec 2006
                  • 1088

                  #9
                  Originally posted by ChEAr$
                  Lower rates usually attach to a group plan, and a single fellow can't be a group.
                  Except in California.

                  Comment

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