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Tony Novak, CPA, MBA, MT
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Celtic Insurance preferred risk plans
by Tony Novak, CPA, MBA, MT
Preferred risk health insurance rates can result in substantial savings for those who qualify. Healthy individuals or families ma be able to qualify for preferred risk rates from Celtic Insurance in the following states:
Alaska (AK), Arizona (AZ), Colorado (CO, District of Columbia (DC), Delaware (DE, Florida (FL), Illinois (IL), Louisiana (LA), Michigan (MI), Missouri (MO), Mississippi (MS), Montana (MT), Ohio, (OH), Oklahoma (OK), Pennsylvania (PA), South Dakota (SD), Tennessee (TN), Texas (TX), Virginia (VA), Wisconsin, (WI), West Virginia, (WV), and Wyoming (WY).
Residents of most of these states also have the option to use a Health Savings Account qualified insurance plan for additional savings. Policyholders can take comfort that Celtic took the more conservative approach of waiting for state or federal and state clarifications before announcing that their insurance plans actually met all of the HSA guidelines. The Celtic HSA insurance plans do state this qualification, so the tax risks apparent when using other health high deductible insurance plans with an HSA can be avoided.
Health Savings Account insurance plans are less expensive than low deductible insurance plans. A preferred risk discount saves an additional amount. Typical monthly rates are $120 for an individual, $320 for a family. Rate and plans vary considerably, so this is only a guideline. All plans offer nationwide coverage with any provider and the opportunity to reduce out-of-pocket costs using a PPO network provider.
In most states these high quality insurance plans are offered under the brand names “Celticare”, “CelticSaver” or “ValueOne”. All coverage details, pricing and immediate enrollment are available online atwww.celticenrollment.com.
Because of the strict scrutiny of applications for preferred risk plans, it is best to continue other health insurance until the preferred risk plan application is actually approved. This typically takes 2-5 days. Keep in mind that the majority of insurance applications will not be issued at preferred risk prices.
See Celticenrollment.com for current information
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