ACE Medicare Supplement Review 2024
ACE is a relatively new player in the Medicare Supplement market; therefore, historical reviews are hard to come by. However, based on our analysis, we 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 $113.83. That’s $55.85 cheaper (or 33% cheaper) than the rate offered by Aetna, which is $169.68. They also have an A++ rating with A.M. Best, which is impressive considering their short track record.
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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 are ACE Medicare Supplement Plans?
Coverage and Benefits
ACE Medicare Supplement plans (or Medigap plans) cover the costs that Original Medicare (Part A and Part B) doesn’t cover, such as deductibles, copayments, and coinsurance. These plans can help fill the gaps in Medicare coverage and may also cover additional benefits like foreign travel emergency coverage. 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.
ACE Medigap Plan Options
Plan A (the most basic of the four) offers coverage for Medicare Part A coinsurance and hospital costs, as well as Part B coinsurance or copayments, among other essential benefits.
Plan F is the most comprehensive option, covering all out-of-pocket expenses associated with Original Medicare, but is only available to those eligible for Medicare before January 1, 2020.
Plan G covers all the same benefits as Plan F, except for the Part B deductible.
Plan N offers similar coverage to Plan G but requires a $25 copay for office visits and a $50 copay for ER visits. Plan N does not cover any Part B excess charges (as Plan G does).
Remember that Medicare Supplement plans provide the same benefits across different companies (for example, ACE Plan G will offer the same coverage as Aetna Plan G). However, your most suitable plan will depend on your circumstances. Carefully comparing each option’s benefits and costs will help you make a well-informed decision.
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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.
| Medigap Plan | ACE | Aetna | Cigna | Mutual of Omaha | |
| Plan F | $130.08 | $215.25 | $254.30 | $202.23 | |
| Plan G | $113.83 | $169.68 | $154.87 | $147.37 | |
| Plan A | $112.75 | $146.77 | $152.55 | $147.94 | |
| Plan N | $85.42 | $116.54 | $115.01 | $111.89 | |
(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.
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.
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.
Financial Stability of ACE Medicare Supplements
A company’s financial stability is critical when selecting a Medicare Supplement provider. ACE Property and Casualty Insurance 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 Property and Casualty Insurance is a highly dependable choice for your Medicare Supplement needs. Their financial stability ensures that the company 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?
