Health insurance for financial advisory firms and insurance agencies in Illinois
A advisory firm or agency in Illinois is usually shopping for two things at once: the owner’s own policy, which pays full price above $62,600 of income this year, and some way to help staff whose median pay in Illinois runs from $44,910 for client service staff to $104,310 for employed financial advisors. These are the Illinois numbers for both.
Your own premium in Illinois
Illinois runs its own marketplace, Get Covered Illinois, so county prices come from the state rather than the federal data this site is built on. The average benchmark Silver plan for a 40-year-old in Illinois costs $646 a month in 2026, and above $62,600 of income for one person, or $128,600 for a family of four, there is no subsidy to bring it down. Insurers have filed an average 14.0% increase for 2027, before regulators sign off.
What you pay as the owner is deductible on Form 7206.
What your staff earn in Illinois, and what an ICHRA has to cover
| Role | Illinois median pay | Most they can be asked to pay, self-only |
|---|---|---|
| Employed financial advisors (BLS: personal financial advisors) | $104,310 | $866/mo |
| Employed insurance agents (BLS: insurance sales agents) | $59,340 | $493/mo |
| Client service staff (BLS: customer service representatives) | $44,910 | $373/mo |
BLS May 2024 medians for employees in Illinois; 9.96% of pay is the 2026 affordability line.
- Employed financial advisors, $104,310 a year. They can be asked to pay at most $866 a month for self-only coverage; whatever the lowest-cost Silver in their area costs above $866 is what an ICHRA has to fill.
- Employed insurance agents, $59,340 a year. They can be asked to pay at most $493 a month for self-only coverage; whatever the lowest-cost Silver in their area costs above $493 is what an ICHRA has to fill.
- Client service staff, $44,910 a year. They can be asked to pay at most $373 a month for self-only coverage; whatever the lowest-cost Silver in their area costs above $373 is what an ICHRA has to fill.
What a QSEHRA covers in Illinois
The 2026 ceiling is $6,450 a year self-only, or $537.50 a month — 83% of Illinois’s $646 benchmark for a 40-year-old. The $13,100 family ceiling, about $1,092 a month, goes further only where family premiums are lower than average.
Who a advisory firm or agency can and cannot cover
Independent advisors and agents on a 1099 cannot be on the firm’s QSEHRA or ICHRA; employed advisors and service staff can. The full rules for financial advisory firms and insurance agencies cover partners, 2% shareholders and contractors in detail.
Sources: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2024; KFF, Marketplace Average Benchmark Premiums, 2026; IRS Publication 15-B (2026), Employer’s Tax Guide to Fringe Benefits; HealthCare.gov, CHOICE Arrangements (formerly individual coverage HRAs).
Questions owners ask
How much does health insurance cost the owner of a advisory firm or agency in Illinois?
About $646 a month for a 40-year-old on the average benchmark Silver in Illinois in 2026, with no subsidy above $62,600 of income for one person or $128,600 for a family of four.
Can a advisory firm or agency in Illinois reimburse staff for individual health insurance?
Yes, through a QSEHRA (up to $6,450 self-only in 2026) or an ICHRA with no cap; the employer sets the amount by class of employee, and it has to clear the 2026 affordability test for each employee.