Aflac Medicare Supplement Review
After evaluating Aflac and their Medicare Supplement offerings, we have found that their customer service is highly responsive, their claims process is efficient, and their premiums are, on average, more affordable by 7% compared to their competitors.
In addition, policyholders have expressed satisfaction with optional dental and vision coverage (available for an additional premium) and household premium discounts for eligible individuals.
While there are some negative reviews, Aflac’s A+ rating from the Better Business Bureau (BBB) shows its commitment to addressing customer concerns.
Our Aflac Evaluation:
| Pros | Cons |
|---|---|
| Trusted brand with a strong reputation for reliability and customer service. | A newcomer in the Medicare Supplement market |
| Coverage options are extensive and include both comprehensive and basic plans | Mixed feedback on review sites |
| Generous household discount opportunities | Prescription drug coverage is not provided |
| Our research indicates that Aflac is a strong option for those seeking a Medigap policy, as they are set to make a big impact in the Medicare Supplement insurance market and gain prominence. | |
What Medigap Plans Does Aflac Offer?
Aflac’s Medicare Supplement plans cover expenses not covered by Original Medicare, including copayments, coinsurance, and deductibles.
The most popular plans offered include Plan G, which is highly comprehensive and covers most gaps except for the Part B deductible.
Plan N is a cost-effective option similar to Plan G, excluding coverage for Part B excess charges and certain copays.
Plan A is a basic option that covers Part A coinsurance and hospital costs, Part B coinsurance and copayments, Part A hospice care coinsurance, and the first three pints of blood for an inpatient transfusion. It is ideal for budget-conscious individuals or those with less extensive coverage needs.
Additional Medigap Benefits With Aflac
Aflac offers extra perks to its Medicare Supplement policyholders, which include:
- Premium discounts for eligible individuals residing in the same household
- Guaranteed renewable policies
- 24/7 customer service and support for claims
- Unrestricted freedom to choose any doctor or healthcare provider who accepts Medicare patients
- Expedited claims processing, with most claims paid within one business day
- Additional dental and vision coverage for an extra premium
How Much Do Aflac Medigap Plans Cost?
If you are considering Aflac’s Medicare Supplement plans, it’s important to compare premium costs with other providers to ensure you find the best option.
After carefully analyzing the prices of the most popular Medigap plans from Aflac and its competitors, we found that Aflac’s premiums are, on average, about 7% lower.
| Medigap Plan | Aflac | Mutual of Omaha | Cigna | Aetna |
|---|---|---|---|---|
| G | $119 | $123 | $134 | $141 |
| F | $145 | $172 | $178 | $179 |
| N | $90 | $93 | $93 | $99 |
| A | $119 | $126 | $142 | $128 |
| These sample quotes are for a 65-year-old male non-smoker in TX zip code 75034, without any household discounts. | ||||
Please note that actual prices vary based on age, gender, location, and tobacco status.
State-specific info: Based on our research, Aflac’s Medigap plan prices are, on average:
- 10.1% lower in Texas
- 6.2% lower in Florida
- 1.4% lower in Georgia
- 10.6% lower in Illinois
Aflac’s Ratings and Reviews
These impressive high ratings serve as a testament to Aflac’s financial stability and commitment to providing policyholders with dependable coverage:
- Aflac has an A+ rating from the Better Business Bureau, reflecting its strong commitment to resolving consumer complaints and high business standards.
- Aflac maintains an A+ (Superior) rating from A.M Best, indicating excellent financial strength and ability to meet insurance obligations.
- In 2017, Aflac ranked 126th on the Fortune 500, demonstrating significant market presence.
- Aflac also ranked 91st on Fortune’s list of best companies, highlighting its reputation for excellence and quality service.
Does Aflac Offer Other Supplemental Plans?
Aflac not only provides Medicare Supplement plans but also offers a diverse selection of supplemental insurance policies.
These include accident, whole life, term life, cancer, dental and vision, and critical illness insurance.
Bottom Line
If you’re looking for a Medicare Supplement insurance policy, Aflac is a provider that should be on your radar. They offer a range of Medigap plans, although it’s worth noting their relative newness in the Medicare market.
Our team of licensed insurance agents is happy to assist you in navigating your options to find the best Medigap plan that fits your needs.
Sources: Aflac Website | Customer Testimonials | Medigap Info | Aflac Medigap Expansion
FAQ
Can Aflac cancel my Medigap policy?
No, all Aflac Medicare Supplement plans are guaranteed renewable annually upon timely premium payment.
Who is eligible for Aflac’s Medicare Supplement plans?
Eligibility for Aflac’s Medicare Supplement plans is primarily based on age and enrollment in Medicare Parts A and B. Individuals 65 or older enrolled in Medicare Parts A and B can apply for these plans.
