AICPA Insurance Programs

Group Catastrophe Major Medical Insurance
Product Information

Product Information for NY Residents

Group Catastrophe Major Medical Insurance is an AICPA-sponsored plan that enhances your basic health insurance coverage by providing up to $1,000,000 in additional lifetime benefits. Once your medical costs within a 24 month period exceed the greater of the deductible you select or the maximum benefit your primary health insurance will pay, this insurance covers up to 100% of your eligible reasonable and customary medical charges with limited exceptions.

If you have a traditional fee-for-service plan, an individual or managed care plan, or even Medicare, that plan most likely has caps or limits on its benefits. One catastrophic non-job related injury or sickness can all too quickly use up those basic health care coverage benefits, leaving you with tens or even hundreds of thousands of dollars of medical costs to pay - costs that likely can only be met by using your existing savings and assets. Non NY residents click here for plan information and enrollment.

How the plan works
After your deductible is met this plan will pay up to $1 million of eligible reasonable and customary expenses for medical treatment over a three-year benefit period after your basic health insurance limits have been reached. The plan will also pay for medical expenses should you choose to consult a non-network provider for care. This can be a valuable benefit should you want to receive highly specialized care, such as cancer treatment, at a particular institution.

Eligibility
All AICPA members in good standing who have a basic health care plan individually or through work are eligible to apply. You can also cover your lawful spouse and unmarried, dependent children age 19 or younger (age 25 if a full-time student).

You become eligible for benefits when your medical costs within a 24 month period exceed the deductible you have chosen - the greater of the benefits paid by your basic plan or $25,000 or $50,000. (To help determine which deductible amount is right for you, check your current health care plan to find out its caps and limits.) In most cases, the benefits that have been paid by your basic plan can satisfy your deductible for this additional coverage.

To enroll, you must be a resident of New York, able to perform normal activities of a person of like age and sex, with like occupation or retired status on the date your insurance is to take effect. If you are not, such insurance will take effect on the day you resume such activities.

Your acceptance is guaranteed (No health or medical questions)
Once enrolled, your coverage cannot be cancelled by the underwriter for health reasons. Regardless of your age or health condition, your coverage can remain in force as long as your premium payments are current, you remain an AICPA member and the group policy remains in force. Coverage for your dependents will end when your insurance ends, dependents' insurance ends under the group policy, the person ceases to be a dependent or the premium is not paid for the dependent when due.

A Prudent, Economical Choice The group rates offered through the AICPA catastrophic major medical plan provide you with an economical way to make sure you'll get the quality of care you require - without jeopardizing your personal assets. The semi-annual cost with a $50,000 deductible for a member under age 40 is only $116.16 - the equivalent of only $19.36 per month.

You can provide this coverage for yourself, your spouse and dependent children for just $269.81 semi-annually, or $44.97 per month if you are under age 40.

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