Ace Medicare Supplement plans are underwritten by ACE Property & Casualty Insurance Company, a Chubb company.
Company Background and History
Chubb Insurance Company, commonly known as Chubb, is a global insurance company that provides a wide range of insurance products and services to individuals, businesses, and multinational corporations. Chubb trades under the ticker symbol CB on the NYSE.
The company was founded in 1882 by Thomas Caldecot Chubb and his son Percy as a marine underwriting business in New York City.
Over the years, Chubb has expanded its offerings to include property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance. The company has grown to become one of the largest and most respected insurance providers in the world, with operations in over 54 countries and territories.
Chubb’s mission is to provide insurance solutions that enable its clients to manage risk and protect themselves against loss. The company is known for its focus on risk management and customer service, and is committed to providing high-quality insurance products and services that meet the needs of its clients.
In 2016, Chubb was acquired by ACE Limited, a global insurance company based in Switzerland, in a $29.5 billion deal. Today, the company operates as Chubb Limited, with headquarters in Zurich, Switzerland, and Warren, New Jersey, USA.
Medicare Supplement Plans Offered By ACE
ACE Medicare Supplement, also known as Medigap, is a type of insurance that helps cover the gaps in Medicare coverage. Medicare only covers up to 80% of certain healthcare costs, leaving the remaining 20% as out-of-pocket expenses. ACE Medicare Supplement plans can help cover these costs, such as deductibles, co-payments, and co-insurance.
There are several types of ACE Medicare Supplement plans available, each with varying levels of coverage. For example, Plan F is the most comprehensive plan, covering all out-of-pocket expenses, while Plan N has lower monthly premiums but requires a small co-payment for doctor’s visits. Plan G is the most popular plan and covers all costs except for the Part B annual deductible which is $240 in 2024.
One of the benefits of ACE Medicare Supplement is that you can choose any doctor or hospital that accepts Medicare, without needing a referral. This gives you the freedom to see any healthcare provider that you prefer. Additionally, there are no network restrictions, so you can receive care wherever you go.
Another advantage of ACE Medicare Supplement is that your coverage is guaranteed renewable for life, as long as you continue to pay your premiums on time. This provides peace of mind knowing that your coverage will be there when you need it most.
ACE Medicare Supplement plans are available to anyone who is enrolled in Medicare Part A and Part B. However, it’s important to enroll during your initial enrollment period, which is a six-month window that begins on the first day of the month in which you turn 65. If you miss this window, you may be subject to underwriting, which could result in higher premiums or being denied coverage altogether.
ACE Medicare Supplement is backed by one of the largest insurance companies in the world. The rates are competitive and worth looking into. Call us for a free quote at 800-208-4974.