Updated July 2026 · IllinoisPlanFinder.com — Licensed Health Insurance Producer (NPN #21249133)

Health Insurance for Accounting & Tax Small Businesses in Highland Park, IL

Small business owners in Highland Park may qualify for ACA subsidies on GetCoveredIllinois if they do not have access to affordable employer-sponsored coverage.
In 2026, 5 carriers offer marketplace plans in Illinois Rating Area 3, which covers Lake and McHenry counties, including PPO, HMO, and EPO options.
For a small business with 2-50 employees, group health insurance can offer tax advantages and help attract talent, especially with Highland Park's median income of $168,094.
Illinois Medicaid covers adults up to 138% of the Federal Poverty Level, while pregnant women are covered up to 213% FPL, offering comprehensive, low-cost options.

For small business owners in the accounting and tax industry in Highland Park, Illinois, securing comprehensive and affordable health insurance for themselves and their employees is a crucial decision. Whether you're a solo practitioner, a small firm with a few employees, or a growing team, understanding the available options is key to making an informed choice. In Highland Park, which is part of Lake County and Illinois Rating Area 3, small businesses can explore a range of plans from individual marketplace coverage with potential subsidies to various group health plan structures designed for businesses with two or more employees. The choice often balances cost, coverage flexibility, and the administrative burden, with personalized guidance from a licensed health insurance producer proving invaluable.

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What Health Insurance Options Are Available for Small Accounting & Tax Firms in Highland Park?

Small accounting and tax businesses in Highland Park have several pathways to health coverage, depending on their size, budget, and employee needs.

For solo practitioners or businesses with only one owner/employee, individual plans through GetCoveredIllinois, the state's official health insurance marketplace, are often the most cost-effective solution. Eligible individuals can receive premium tax credits (subsidies) that significantly reduce monthly premiums, based on household income. These plans cover essential health benefits, including visits to local providers within systems like Northwestern Lake Forest Hospital.

Businesses with two or more employees (up to 50) can consider Small Business Health Options Program (SHOP) plans on GetCoveredIllinois or private group health insurance plans. Group plans offer a broader selection of networks and often have more predictable costs for employers, though they typically require a minimum employee participation rate. Both options allow employers to contribute to premiums, a valuable benefit for employees and a tax-deductible expense for the business. Highland Park, with a population of 30,398 and a median household income of $168,094 per U.S. Census Bureau ACS 2024 5-year estimates, represents a market where competitive benefits are often sought by professionals.

Understanding ACA Marketplace Plans in Highland Park

The Affordable Care Act (ACA) marketplace, GetCoveredIllinois, provides a structured way for individuals and small businesses to find health insurance. In Illinois Rating Area 3, which covers Lake and McHenry counties, plans are categorized into metal tiers (Bronze, Silver, Gold, Platinum) based on how costs are shared between the plan and the enrollee.

Bronze plans typically have the lowest monthly premiums but the highest deductibles and out-of-pocket maximums, making them suitable for those who expect minimal healthcare use or want catastrophic coverage. Silver plans offer a balance, with moderate premiums and deductibles. Crucially, if your income qualifies, you may be eligible for Cost-Sharing Reductions (CSRs) on Silver plans, which lower your deductibles, copayments, and out-of-pocket maximums. Gold and Platinum plans have higher premiums but lower out-of-pocket costs when you need care.

It is important to note that PPO plans ARE available on-exchange in Illinois, offered by carriers such as Blue Cross and Blue Shield of Illinois. This means marketplace shoppers in Highland Park can choose from HMO, EPO, and PPO structures, providing more flexibility in provider choice compared to some other states.

Navigating Group Health Insurance for Your Accounting & Tax Team

For accounting and tax businesses in Highland Park with multiple employees, offering a group health plan can be a strategic move. Group plans are generally more stable in terms of pricing and can provide access to broader networks of doctors and hospitals, including facilities like Advocate Condell Medical Center in Libertyville.

When considering a group plan, key factors include the number of eligible employees, the employer's contribution strategy, and the desired level of coverage. Employers typically contribute a percentage of the employee's premium, and sometimes a portion for dependents. This contribution is usually tax-deductible for the business. Group plans also come with administrative responsibilities, such as managing enrollment and compliance, but the benefits in terms of employee retention and morale can be significant.

Lake County, home to Highland Park, has a population of 714,223, with an uninsured rate of 6.9% per U.S. Census Bureau ACS 2024 5-year estimates. This context highlights the importance of accessible health coverage for residents and businesses alike, making comprehensive group options a valuable offering for employers.

Illinois Medicaid and CHIP for Highland Park Residents

For individuals and families connected to accounting and tax businesses in Highland Park who may have lower incomes, Illinois offers robust Medicaid and CHIP programs. Illinois expanded Medicaid in 2014, meaning adults with income up to 138% of the Federal Poverty Level (FPL) may qualify for Illinois Medicaid. This program provides comprehensive health coverage with no monthly premiums.

Furthermore, Illinois Medicaid covers pregnant women with income up to 213% FPL, one of the highest thresholds among production states. This coverage includes prenatal care, labor, delivery, and 12 months of postpartum care, extended under the American Rescue Plan. For children, Illinois All Kids (the state's CHIP equivalent) covers those up to 313% FPL with low-cost coverage, making it one of the most expansive child coverage programs in the country. Applications can be submitted through ABE (abe.illinois.gov) or by calling the DHS helpline.

Health Insurance Carriers in Highland Park

In 2026, 5 carriers offer marketplace plans in Illinois Rating Area 3, which covers Lake and McHenry counties, providing a range of choices for Highland Park residents and small businesses. These confirmed-local carriers include:

Ambetter
Blue Cross and Blue Shield of Illinois
Molina Healthcare
Oscar Health
United Healthcare

When selecting a plan, consider the specific networks offered by each carrier to ensure your preferred doctors and local hospitals, such as Vista Medical Center East in Waukegan or Advocate Good Shepherd Hospital in Barrington, are included.

Making the Right Health Insurance Decision for Your Firm

Choosing the ideal health insurance solution for your accounting or tax business in Highland Park involves weighing several factors.

For solo owners or those with 1-2 employees: Individual plans on GetCoveredIllinois, potentially with subsidies, may offer the best value. Compare Bronze, Silver, and Gold plans based on your expected healthcare usage and budget.
For firms with 2-50 employees: Evaluate the benefits of a group health plan versus directing employees to individual marketplace plans. Group plans can enhance recruitment and retention but come with employer contributions and administrative duties.
Consider your budget: Analyze monthly premiums, deductibles, and out-of-pocket maximums for both individual and group options. Remember the tax advantages of employer contributions to group plans.
Network access: Ensure the plan's network includes preferred local providers and major Lake County hospitals like Northwestern Lake Forest Hospital.

A licensed health insurance producer can provide tailored advice, helping you navigate the complexities of plan selection, subsidy eligibility, and group plan administration, all at no direct cost to you. They can compare options from carriers like Ambetter and Blue Cross and Blue Shield of Illinois to find the best fit for your Highland Park business.

Frequently Asked Questions

Can small business owners in Highland Park qualify for ACA subsidies?

Yes, small business owners in Highland Park who do not have access to affordable group health insurance through an employer (or their spouse's employer) may qualify for premium tax credits on GetCoveredIllinois. Eligibility depends on household income relative to the Federal Poverty Level.

What types of health insurance plans are available for small businesses in Highland Park?

Small businesses in Highland Park can choose from various plan types, including PPO, HMO, and EPO plans, both on and off GetCoveredIllinois. Options range from individual plans with subsidies to Small Business Health Options Program (SHOP) plans or private group plans.

Is group health insurance required for accounting and tax firms in Illinois?

No, Illinois law does not generally mandate that small businesses offer group health insurance. However, providing benefits can be crucial for attracting and retaining skilled accounting and tax professionals in a competitive market like Highland Park.

How can I compare health insurance options for my small business in Lake County?

To compare options effectively, consider factors like monthly premiums, deductibles, out-of-pocket maximums, network access (including local hospitals like Northwestern Lake Forest Hospital), and tax implications. Working with a licensed health insurance producer can simplify this process and help identify the best fit for your team in Lake County.