Group Insurance for Firms
Eligibility
A benefits program usually available only to large employers.
In today's competitive marketplace, a good benefits plan is often an essential
component of a firm's compensation package. But the expense of those plans can
put them out of reach of many smaller firms. As an AICPA participant, your firm
can join some 6,000 other public accounting firms in the AICPA Group Insurance
Plan - a group large enough to secure a quality plan that's stable, affordable,
and an important value for your employees.
What firms are eligible to participate?
Your firm is eligible if it has its principal office in any state (except
Texas), the District of Columbia, Guam, Puerto Rico, or the U.S. Virgin Islands.
To be eligible: (1) the proprietor or at least one partner or firm member
of a public accounting firm must be a member of the AICPA, or (2) a member or members of the
AICPA must have at least 50% ownership in a firm, other than a public accounting
firm.
In addition, the firm must have at least one eligible full-time employee, other than the proprietor, partner or firm member, who is to become insured on the date participation begins for the firm.
Who may be covered?
Proprietors, partners or firm members, and the full-time staff, including
all full-time employees, are eligible to request insurance on an immediate
basis (starting date) or after completing six months of continuous service,
whichever option has been elected by the firm.
Full-time means working in the firm's employ for a minimum of 17 ½ hours per week and not less than five months in a calendar year. Each proprietor, partner, firm member, and employee requesting insurance must provide satisfactory evidence of insurability in order to become covered. It is expected that most individuals requesting insurance will be accepted on the basis of their answers to questions on the request for coverage and without further medical evidence.
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