Health Insurance for Financial Advisors

Why Financial Advisors Need Individual Health Insurance

Financial advisor income is variable and tied to AUM growth, commission structures, and client acquisition, with fee-only planners tending to build more predictable income over time. Most self-employed Financial Advisors do not have access to employer-sponsored group coverage, which means finding and managing individual health insurance falls entirely on you. The good news: ACA marketplace plans are available in every state, subsidies are income-based, and the self-employed health insurance deduction means your premiums reduce your taxable income.

Income, Subsidies, and Plan Costs

The national median income for Financial Advisors is approximately $95,000 per year, though actual income varies widely by city, experience, and practice type. ACA subsidy eligibility depends on your annual income relative to the Federal Poverty Level. At the national median, most Financial Advisors will qualify for at least some subsidy, and those in lower-cost cities may qualify for substantial savings. Client relationship stress, regulatory complexity, and the sedentary nature of financial planning work are the primary health considerations for independent financial advisors.

How to Get Covered

• ACA Marketplace (healthcare.gov or your state exchange): Available during Open Enrollment (November 1–January 15) or after a qualifying life event. Income-based subsidies apply.
• Medicaid: Available year-round for lower-income Financial Advisors. Eligibility depends on your state and household income.
• Private individual plans: Available year-round, medically underwritten, no subsidy eligibility but no enrollment window restrictions.

Find Your City

Select your city below for a detailed breakdown of marketplace options, local carrier availability, and subsidy estimates based on your income as a Financial Advisor in that market.