CalCPA ProtectPlus

“It may be a cliché,” says Stu Weinstein, chair of the Group Insurance Trust Claims and Plan Design Committee, “but I have gotten a lot out of my relationship with CalCPA as member, and so serving as a trustee, and finding products and services that benefit members, is a great way to give  back.” To this he adds, “Its enjoyable to be associated with something as successful as the Group Insurance Trust has been.”

In addition to his spirit of service, Weinstein also embodies a broad range of professional experience that helps him understand the circumstances of different members. Having graduated with a degree in accounting from the University of California, Berkeley in the late 1960s, Weinstein started his career with a large regional accounting firm where he served until receiving his license. From there he moved to a consulting firm and then to a job as controller in McKesson Corporation’s International Division.

He comments that this experience was a unique opportunity

“to observe the  inside of a business from the client’s perspective, something that many CPAs don’t get a chance to do.”

He was fascinated to see how an enterprise is built, how people are responsible for the bottom line, and how they report to others. He was also engaged by the process of building appropriate controls. At the end of the day, however, he found the work repetitive, and he turned back to public accounting with renewed interest.

He joined his father, who had been working as a solo CPA, in forming Weinstein & Company, where he stayed until 1999. At that point he found himself ready for a more corporate structure and moved to Rooney, Ida, Nolt and Ahern, which had just opened a San Francisco office. He liked the fact that they had separate departments with specialties and that clients were shared.

This structure also meant that his clients had a place to stay as he transitioned into retirement during the years from 2005 to 2007. Currently he still provides occasional services as a consultant and also continues as a director of CAMICO Mutual Insurance Company. (continue reading…)

CalCPA Council recently nominated Gale Case, John Phillips, James Malone and Nancy Chandler to serve three-year terms as trustees of the Group Insurance Trust. You can nominate any qualified individual for the fall election by submitting supporting petitions from at least 20 firms participating in one or more of the GIT’s group health and welfare plans by Sept. 25. For more information, contact Judith Graziani at (800) 556-5771 x 2405 or judith.graziani@calcpa.org.

This year the Group Insurance Trust celebrates its 50th anniversary. Looking back, it’s a story of hard work and remarkable achievements. Whether you’ve been a long-time CalCPA member and can recall many of these events or have joined recently, a quick review of this history reveals the valuable service of CalCPA staff and board volunteers who have helped build this organization. This history also shows how CalCPA membership benefits have grown over the years. Consider these twelve milestones in the history of the GIT.

1. On December 4, 1959, the California Society of CPAs creates a trust for the maintenance of group insurance programs serving employer members, employees, and dependents. Over the course of the next 38 years, the terms of this trust will be amended and restated several times.
2. Between 1980 and 1983 two committees administer CalCPA insurance benefits. In 1983 the two committees separate. The Members Insurance Plans Committee is charged with the formation of CAMICO, while the Administrative Committee of the Group Insurance Trust (ACGIT) is given oversight of CalCPA’s health and welfare plans.
3. In 1981, with healthcare premiums escalating rapidly, the medical plan is put out for bid and moved from Pacific Mutual to Blue Cross. Despite a two-year rate guarantee period, when the plan loses $2 million in the first year Blue Cross requests and is denied an 82 percent premium rate increase. Eventually the Trust and Blue Cross agree on a rate increase of more than 40 percent and the creation of a rate stabilization fund to temper future rate increases. (continue reading…)