ACE (Chubb) Medicare Supplement Review
ACE (Chubb) is a relatively new player in the Medicare Supplement market; therefore, historical reviews are hard to come by. However, based on my experience working with ACE, I can confidently say that ACE Medicare Supplement prices are highly competitive compared to other companies.
For example, let’s say you’re new to Medicare and just turning 65. Our analysis reveals that the ACE Medigap Plan G rate in Austin County, Texas, is $136.75. That’s 61% cheaper than the rate offered by Aetna, which is $220.25. They also have an A++ rating with A.M. Best, which is impressive considering their short track record.
Important Notice About ACE Medicare Supplement (CHUBB)
ACE Medicare Supplement (CHUBB) is no longer accepting new members. If you are currently enrolled, your existing coverage remains active and unchanged.
For those seeking Medicare Supplement coverage, there are excellent alternatives available that provide strong benefits and nationwide stability.
👉 Call us today at 888-414-4547 to compare the best options and find the right Medicare Supplement plan for your needs.
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ACE Key Points
- Cheaper premiums in many states compared to other providers
- Four plans are offered in 36 states at varying costs and coverage levels
- Solid stability of A++ rating
- 7% discount for eligible household members
- No network restrictions
What Medigap Plans Does ACE Offer?
Coverage and Benefits
ACE Medicare Supplement plans (or Medigap plans) cover costs that Original Medicare (Parts A and B) doesn’t, such as deductibles, copayments, and coinsurance. These plans can help fill gaps in Medicare coverage and may also cover additional benefits, such as emergency coverage for foreign travel. It’s important to note that the specific coverage and benefits can vary depending on the plan type you select.
In addition to the standardized coverage offered by most Medicare Supplement plans, ACE plans also provide a significant advantage: no network restrictions. With no network restrictions, you can receive care from any doctor or hospital that accepts Medicare without needing a referral, which allows flexibility when choosing healthcare providers.
Plans are also guaranteed renewable as long as premiums are paid and remain current.
Since Medigap plans are standardized by the federal government, the medical benefits are identical regardless of which insurance company you choose.
An ACE Plan G provides the same Medicare benefits as a Plan G from any other carrier – the primary differences are price, rate stability, household discounts, and customer service.
Here’s a quick look at the plans ACE offers:
Plan G – The Most Popular Choice
Plan G is by far the most popular Medicare Supplement plan in the country, accounting for approximately 39% of all Medigap policies, or about 5.3 million enrollees nationwide.
It covers nearly every Medicare-approved out-of-pocket expense except the annual Part B deductible, making it the top choice for beneficiaries who want comprehensive coverage and predictable healthcare costs.
Plan N – The Best Value for Many Healthy Retirees
Plan N is the third most popular Medigap plan, covering about 10% of all Medicare Supplement policyholders (roughly 1.4 million people).
It offers lower monthly premiums than Plan G in exchange for small copays on certain office and emergency room visits, making it an excellent option for people who don’t expect frequent medical care.
Plan A – Basic Coverage
Plan A is ACE’s most basic Medicare Supplement option. It includes the core Medigap benefits required by law, but leaves you responsible for more deductibles and cost-sharing than Plan G or Plan N. As a result, it represents only a small share of the Medigap market and is selected far less often than the more comprehensive plans.
Plan F – For Medicare Beneficiaries Eligible Before 2020
Plan F remains the most comprehensive Medicare Supplement plan available, but it can only be purchased by people who became eligible for Medicare before January 1, 2020.
Although it is closed to newly eligible beneficiaries, it still accounts for about 36% of all Medigap enrollment (nearly 4.9 million policyholders) because many longtime Medicare beneficiaries have kept their coverage.
In our experience, Plan G and Plan N are the two plans most Medicare beneficiaries should compare first. Together, they account for nearly half of all Medicare Supplement policies sold today and offer the best combination of comprehensive coverage, predictable costs, and long-term value.
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ACE State Availability
ACE currently offers plans in the following states:
AL, AR, AZ, CO, FL, GA, ID, IL, IN, IA, KS, KY, LA, MD, MI, MO, MS, MT, NE, NJ, NM, NV, NC, ND, OH, OK, PA, SC, SD, TN, TX, UT, VA, WV, WI, WY
The availability, coverage, and pricing of these plans may vary between states, so it is essential to check the specific details for your location.
ACE Medicare Supplement plans may use different pricing methods depending on the state. These include issue age, attained age, or community-rated pricing methods. By offering competitive rates across the board, ACE ensures its Medicare Supplement plans are accessible to many people.
How Do ACE's Premiums Compare to Other Providers?
Let’s look at how ACE Medigap rates compare to other leading Medigap providers, like Cigna, Aetna, and Mutual of Omaha.
| Medigap Plan | ACE | Aetna | Cigna | Mutual of Omaha | |
| Plan F | $153.08 | $279.39 | $254.30 | $217.79 | |
| Plan G | $136.75 | $220.25 | $154.87 | $158.70 | |
| Plan A | $130.58 | $177.60 | $152.55 | $159.32 | |
| Plan N | $98.92 | $151.27 | $115.01 | $120.50 | |
(Please note: these sample prices are for illustrative purposes only. The comparison is for a single male with no household discounts. Household discounts will drive rates even lower for all providers.)
The affordability of their plans, combined with the comprehensive coverage and flexibility offered, makes ACE plans an attractive option for many individuals seeking Medigap coverage.
Consulting one of our licensed insurance agents will ensure you make the most informed decision possible. We can help you compare costs and benefits between ACE Medicare Supplements and other providers, ultimately guiding you toward the best plan for your needs.
Do ACE Medicare Supplement Plans Offer Discounts?
The main discount ACE offers is a household discount. Household members can benefit from a potential 7% discount on monthly premiums with ACE Medicare supplement plans. This discount can lead to significant savings for eligible participants, making these plans more attractive and cost-effective.
The eligibility criteria for the household discount may vary by state, so you must check the specific details for your location.
Pros and Cons of ACE Medicare Supplements
While ACE has gained attention for its competitive pricing, some may wonder about its long-term presence in the market. In this section, we’ll break down the pros and cons of ACE Medicare Supplement Plans to help you make an informed decision.
Pros:
1. Backed by Chubb Insurance (A++ Rated for Financial Strength)
One of the biggest advantages of ACE Medicare Supplement Plans is that they are backed by Chubb Insurance, a company with an A++ (Superior) rating from AM Best. This rating reflects Chubb’s strong financial position and ability to pay claims reliably, providing policyholders with peace of mind.
2. Competitive Medicare Supplement Rates
As previously mentioned, ACE has entered the Medigap market with highly competitive pricing in many states, making it an attractive option for those looking for a balance between affordability and strong coverage.
Many of our clients are enrolling in ACE Medicare Supplement Plans because they offer some of the best rates available for Plan G and Plan N.
3. Standardized Coverage & Protection
Like all Medicare Supplement plans, ACE policies follow the standardized benefits set by Medicare. This means the coverage you receive with an ACE Medigap plan is identical to the coverage offered by other insurance carriers for the same plan type. The only differences are the monthly premium and the company providing the policy.
Cons:
1. Newer to the Medicare Supplement Market
One potential downside of ACE is that they are newer to the Medigap industry. Unlike long-established Medigap providers, ACE’s long-term rate stability and commitment to the market are still uncertain. However, their strong financial backing from Chubb makes them less likely to exit the market unexpectedly.
2. Uncertain Longevity in the Market
Since ACE is a newer entrant, some people may worry about what happens if they decide to exit the Medicare Supplement business or sell their book of business. However, Medicare Supplement policyholders are always protected under federal regulations.
If ACE were to leave the market or transfer policies to another company, members would receive proper notification and continue to have the same guaranteed coverage without interruptions.
3. No Additional Perks Like Dental, Vision, or Hearing
Unlike some of the larger Medicare Supplement providers, ACE does not offer additional benefits such as dental, vision, or hearing coverage.
Companies like UnitedHealthcare, Aetna, Cigna, and Mutual of Omaha include these extra perks with their Medigap plans, which can be a deciding factor for those looking for more comprehensive benefits beyond standard Medigap coverage.
If you’re someone who values these additional services, you may want to consider whether ACE’s lower rates outweigh the absence of these perks.
Final Thoughts: Should You Choose an ACE Medicare Supplement Plan?
For those looking for competitive rates and the security of an A++-rated company, ACE Medicare Supplement Plans are an excellent choice.
While ACE is newer to the Medigap space, their backing by Chubb Insurance makes them a financially strong option. Additionally, regulatory safeguards ensure policyholders are protected in the unlikely event that ACE exits the market.
Currently, many of our clients are choosing ACE Medicare Supplement Plans because of their affordable rates and financial stability, and we do not foresee any immediate concerns about their future in the industry.
However, if you’re looking for additional benefits like dental, vision, or hearing coverage, you may want to compare ACE with other Medigap providers that include these extras.
How Do I Enroll in an ACE Medigap Plan?
If an ACE Medicare Supplement plan interests you, the wisest and most time-efficient means of enrolling is to consult with one of our licensed insurance agents, who can guide you through the enrollment process and help you select the best plan for your needs.
The initial enrollment period for Medicare Supplement plans is a six-month window that begins on the first day of the month of your 65th birthday. During this time, you will not have to undergo medical underwriting and are guaranteed enrollment, so don’t delay exploring your options and securing your coverage. You may be charged more or denied coverage if you miss the initial enrollment period.
Financial Stability of ACE Medicare Supplements
A company’s financial stability is critical when selecting a Medicare Supplement provider. AACE Chubb Property and Casualty Insurance company has been assigned an A.M. Best rating of A++, the highest possible rating, indicating a solid financial foundation.
With over $200 billion in assets, ACE Chubb Property and Casualty Insurance is a highly dependable choice for Medicare Supplement needs. The company’s financial stability ensures that it can meet its obligations to customers and continue providing high-quality coverage at competitive prices.
Summary
In conclusion, ACE Medicare Supplement plans offer comprehensive coverage, affordable premiums, and a wide range of options to suit different needs and budgets.
With a solid financial foundation and the potential for household discounts, ACE is an excellent choice for those seeking Medicare Supplement coverage.
Frequently Asked Questions
- Is ACE a good insurance company?
- Who owns ACE Medicare Supplement?
- What benefits can I expect from ACE Medicare Supplement plans?
- Which Medigap plans does ACE offer?
- Are ACE Medicare Supplement plans available in all states?
