Celtic Insurance preferred risk rates

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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).

HSA options

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.

Celticare options

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.

Status: outdated

See Celticenrollment.com for current information

tonynovak.comThis Web site is independently owned and operated by Tony Novak operating under the trademarks “Freedom Benefits”, “OnlineAdviser” and “OnlineNavigator”. Opinions expressed are the sole responsibility of the author and do not represent the opinion of any other person, company or entity mentioned. Tony Novak is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier and has no financial position in any stocks mentioned. Novak may act as and be compensated as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to the companies listed on this site or other commercial companies and non-governmental insurance exchanges. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties.

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