Aflac Medicare Supplement Plans: Reviews, Ratings and Benefits (2024)

If you would like to learn more about Aflac and their insurance products, contact one of our trusted agents at 800-208-4974 today.

Company History and Background

Aflac Life Insurance has quite an enormous reputation in the insurance industry. Their trademark is probably imprinted in our minds, thanks to the peculiar white duck from the popular TV commercial. However, the popularity of the Fortune 500 company isn’t solely dependent on the famed TV mascot. They earned their place as one of the most recognized names in the world of supplemental life insurance by providing quality insurance products.

Aflac, is an actually an acronym for American Family Life Assurance Company. They were established in 1955, providing basic life insurance from their headquarters in Columbus, Georgia. In 1958, Aflac took a step further by introducing their first cancer policies. A few years later, Aflac made workplace policies that paid through payroll deductions as its selling point. Today, Aflac sells a variety of supplemental health insurance and life insurance policies through payroll deduction policies. Aflac products can also be bought privately through the company’s various agents across the United States.

Financial Value and Ratings

Aflac is a leading supplemental insurance company with excellent financial ratings. The organization has an A+ rating with Better Business Bureau and an A+ (Superior) rating from A.M Best. In 2017, Aflac earned the 126th spot on the Fortune 500. In addition, they were also ranked number 91 on the Fortune list of Best Companies.

Aflac Additional Health Care Products

For over 60 years, Aflac has been a top provider of cancer and supplemental medical insurance through the worksite market in the United States. The company offers a range of insurance products such as:

• Accident Insurance
• Basic Whole
• Term life insurance
• Cancer Insurance
• Dental and Vision Insurance
• Critical Illness Insurance.

Aflac Medicare Supplement Products and Benefits

Aflac supplemental insurance plans are designed to provide peace of mind and financial security. They achieve this through supplementing policy holders typical health insurance policy. For example, the majority of insurance cover about 60% of total medical expenses, supplement insurance helps pay the rest of the out-of-pocket costs such as: deductibles, coinsurance, and copays, which make up the remaining 40%.

There are also supplemental insurance products that provide more coverage than a typical insurance policy. For example, Aflac’s cancer insurance and critical-illness supplement insurance offers cash benefits to beneficiaries, in case they are diagnosed with cancer or suffer a stroke or heart attack.

As mentioned earlier, Aflac offers most of its policies through workplace deductions. Therefore, their quotes are not available online. Aflac prices and premiums are not easy to determine, however, the customers that are interested in purchasing any of their products can privately request a quote directly from the organization through their website or any of their insurance agents.

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If you have any questions about Aflac Medicare Supplement policies you can contact one of our insurance agents at 800-208-4974, we’d be happy to answer any questions or provide you guidance.

Aflac Medicare Supplement Plan F

Aflac’s Medigap Plan F offers the most extensive Medicare insurance coverage compared to all other Medicare supplement plans. Typically, Plan F is the most expensive since it covers most of the expenses left from Original Medicare Part A and Part B. Customers under this plan have to pay very minimal out-of-pocket expenses. Below are the benefits of Plan F asides the costs covered by Original Medicare Part A:

• Medigap Part B excess charges.
• Medigap Part B deductible.
• Skilled nursing facility care.
• Foreign travel emergency care (up to plan limit).

Aflac Medicare Plan G

Medicare supplement plan G covers almost all the out-of-pocket expenses that Original Medicare does not provide coverage for, with one exemption. With plan G, policyholders have to pay their Part B deductible. Here are the benefits of plan G without those included in basic Medicare plan A:

• Part B excess charges.
• Skilled nursing facility care coinsurance.
• Foreign travel emergency care (up to plan limit).

Aflac Medigap Plan N

Medigap Plan N is one of the most affordable Medicare supplement plans. Although this plan covers minimal out-of-pocket expenses compared to other plans, it is a great fit for customers who are looking for plans with low premiums. Here are the benefits of plan N apart from those included in the basic Medicare plan A:

• Skilled nursing facility coinsurance.
• Foreign emergency travel care (up to plan limit)
• Part A deductible.

Claims Experience with Aflac

Customers can file their claims with Aflac Insurance in three different ways. The Aflac website has claims forms that can be downloaded, filled, and then either mailed or faxed to the company. Policyholders can also use the SmartClaim system to file their claims by logging into their customer account and accessing the claims system.

Aflac claims are handled electronically after Medicare approves and processes the claim. Customers can take advantage of Aflac’s One Day Pay systems which can help policyholders to receive benefits payments within 48 hours. Using the SmartClaim system, customers can fill out claims forms, upload all necessary supporting documents, and upload their forms quickly to receive a fast response. For claims that require more investigation, Aflac promises to process them under 4 days, which is an excellent processing time.

Which Medicare Supplement Plan is the Best? Plan F vs. Plan G

Most times it’s tough to decide which Medicare supplement plan to choose. Each customer has specific needs and their budget for Medigap plans vary as well. For intending customers to find it difficult to choose between plan F and G, it is important to know that Plan F offers the most supplemental coverage.

With plan F, after the monthly premium has been paid there will be very minimal or no out-of-pocket costs to pay. However, plan F comes with more premium costs. Although plan G premium is more affordable, it leaves out the Part B deductible which can add up to exceed the difference in the premium rates of both plans.

Learn more: Medigap Plan F vs G: What Plan To Choose?

Our Take

Aflac holds the top position in the market it serves. With millions of policies in force and an excellent track record for claims payout, it is hard to ignore how successfully the company has thrived over the years.

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To receive a free quotes for any Aflac health insurance products or to compare plans, please call us at (800) 208-4974, one of our experienced insurance agents will be happy to help you!

Read More:

• Reserve National Medicare Supplement
• Shenandoah Medigap Plans
• Accendo Medigap Plans

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