Celtic Offers New Preferred Rating Class.Business Editors CHICAGO--(BUSINESS WIRE)--May 15, 2001 Celtic Insurance Company will reduce its individual health insurance rates for applicants who do not use tobacco. The new preferred rating structure applies to CeltiCare and CelticSaver Health Plan prospects in most states and goes into effect on June 1 for July 1, 2001, effective dates. At the same time, rates for tobacco users will increase to reflect this group's inherent underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. risk. The rate changes result in a 15% differential between tobacco and non-tobacco users. "In creating preferred rates, Celtic is recognizing the large beneficial impact that abstaining from tobacco use has on a person's health," said Jim Daly, Executive Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "This new class of clients will save 13% in premiums over comparable tobacco users. That's a significant reward for healthy lifestyles." The rating class is determined separately for each insured individual applying for coverage. For example, if a primary applicant uses tobacco and the dependent spouse spouse A legal marriage partner as defined by state law does not, then the primary applicant will receive the tobacco rates while the spouse will receive the preferred rates. Because the health plans offer coverage to individuals under the age of 18, Celtic will also maintain a children's classification that will not be affected by tobacco rate changes. Celtic will roll out preferred rates in all states by the end of 2001. The CeltiCare Health Plan is available to consumers ages six months to 64 1/2 years. It provides major medical coverage with a wide range of deductibles and a choice of coinsurance A provision of an insurance policy that provides that the insurance company and the insured will apportion between them any loss covered by the policy according to a fixed percentage of the value for which the property, or the person, is insured. levels, two PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there options with low office visit copays, supplemental accident coverage, and an optional benefit package. The low-cost CelticSaver PPO Plan provides essential major medical coverage for individuals ages 18 to 64 1/2 and their dependents. Founded in 1978, Chicago-based Celtic Insurance Company combines a track record of product innovation and financial stability in providing health insurance products for individuals of all ages. Since 1986, Celtic has earned an Excellent rating (currently A-) from A.M. Best, a demonstration of the company's financial strength. Celtic is known in the industry for high-quality products, an emphasis on customer service, and technological expertise. Celtic's District Sales Managers sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → , who provide pre-sale support to insurance agents, are available during business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a at (800) 477-7990. Celtic's Web site, www.celtic-net.com, has product information, underwriting guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. , and interactive client services. |
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