Health insurance for financial advisory firms and insurance agencies in Virginia
A advisory firm or agency in Virginia 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 Virginia runs from $39,210 for client service staff to $99,990 for employed financial advisors. These are the Virginia numbers for both.
Your own premium in Virginia
Virginia runs its own marketplace, Virginia’s Insurance Marketplace, 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 Virginia costs $455 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. Cigna is leaving Virginia’s marketplace for 2027. Insurers have filed an average 16.7% increase for 2027, before regulators sign off.
What you pay as the owner is deductible on Form 7206.
What your staff earn in Virginia, and what an ICHRA has to cover
| Role | Virginia median pay | Most they can be asked to pay, self-only |
|---|---|---|
| Employed financial advisors (BLS: personal financial advisors) | $99,990 | $830/mo |
| Employed insurance agents (BLS: insurance sales agents) | $59,570 | $494/mo |
| Client service staff (BLS: customer service representatives) | $39,210 | $325/mo |
BLS May 2024 medians for employees in Virginia; 9.96% of pay is the 2026 affordability line.
- Employed financial advisors, $99,990 a year. They can be asked to pay at most $830 a month for self-only coverage; whatever the lowest-cost Silver in their area costs above $830 is what an ICHRA has to fill.
- Employed insurance agents, $59,570 a year. They can be asked to pay at most $494 a month for self-only coverage; whatever the lowest-cost Silver in their area costs above $494 is what an ICHRA has to fill.
- Client service staff, $39,210 a year. They can be asked to pay at most $325 a month for self-only coverage; whatever the lowest-cost Silver in their area costs above $325 is what an ICHRA has to fill.
What a QSEHRA covers in Virginia
The 2026 ceiling is $6,450 a year self-only, or $537.50 a month — more than all of Virginia’s $455 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 Virginia?
About $455 a month for a 40-year-old on the average benchmark Silver in Virginia 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 Virginia 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.