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Aflac Medicare Supplement Insurance 2024 Review
Aflac’s premiums are low, but it offers few perks and plan types, and its complaint rates are poor.
Alex Rosenberg Lead Writer | Medicare, health care, legislation
Alex Rosenberg is a NerdWallet writer focusing on Medicare and information technology. He has more than 10 years of experience researching and writing about health care, insurance, technology, data privacy and public policy. His research has supported lawmakers in the Wisconsin State Legislature as well as health systems and national health authorities in the U.S. and more than 10 other countries. He is based in Eau Claire, Wisconsin.
Holly Carey joined NerdWallet in 2021 as an editor on the team responsible for expanding content to additional topics within personal finance. She currently leads the Medicare team. Previously, Holly wrote and edited content and developed digital media strategies as a public affairs officer for the U.S. Navy. She is based in Virginia Beach, Virginia.
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NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates pricing, complaint data, online quote availability, coverage options and more.
Aflac offers lower prices than many competitors, but its complaint rates are high, and there are few plan choices or extra perks.
Plan types offeredMedigap plan types the company generally offers (availability may vary by location). Options include Plans A, B, C, D, F, G, K, L, M and N
A, F, G and N.
NAIC complaint rateHow often the company’s members file complaints about their policies as compared to the industry average, according to data from the National Association of Insurance Commissioners (NAIC). NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Far more than expected
Premium discounts availableBased on the number and size of a company’s available discounts on monthly premiums, in comparison to other insurance companies.
Below average
Pros
Relatively low prices.
High proportion of premium income spent on care rather than overhead.
Cons
High complaint rates.
Competitors offer more perks and extras.
Plan types offeredMedigap plan types the company generally offers (availability may vary by location). Options include Plans A, B, C, D, F, G, K, L, M and N
A, F, G and N.
NAIC complaint rateHow often the company’s members file complaints about their policies as compared to the industry average, according to data from the National Association of Insurance Commissioners (NAIC). NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Far more than expected
Premium discounts availableBased on the number and size of a company’s available discounts on monthly premiums, in comparison to other insurance companies.
Below average
Pros
Relatively low prices.
High proportion of premium income spent on care rather than overhead.
Cons
High complaint rates.
Competitors offer more perks and extras.
Aflac is a newcomer to Medicare Supplement Insurance, having entered the market in 2022. Aflac plans have competitive premiums, and the company spends a large proportion of those premiums on benefits rather than overhead. But its complaint rates are high, and competitors offer more extras.
Here’s what you should know about Aflac Medicare Supplement Insurance.
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45+ Medicare companies and brands analyzed by our team of experts.
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NerdWallet’s Medicare content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in Medicare. Their work has appeared in The Associated Press, Washington Post, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets. They have been cited in publications including Healthline, and appeared on NerdWallet's "Smart Money" podcast.
Aflac Medicare Supplement Insurance
3.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Aflac Medicare Supplement Insurance earned 3 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing, coverage options, online quote availability, complaint data from the National Association of Insurance Commissioners and more.
Medigap Plan A — the basic benefits included in every Medigap plan without any extras.
Medigap Plan N — a plan with lower premiums but higher copays.
Medigap Plan G — the highest-coverage option available to new Medicare members.
Aflac also offers Medigap Plan F for individuals who were first eligible for Medicare before 2020. Newer Medicare members can't buy these plans from any insurance company.
In addition, Aflac offers plans in Wisconsin that fit the state’s standards. (Massachusetts, Minnesota and Wisconsin don't use the same Medigap standardization system as the rest of the country.)
💬 From our Nerds: Is Aflac a good Medicare Supplement Insurance company?
“Since Aflac is new to the Medigap market, there’s less data available to provide a fully informed assessment. On the pro side, its prices are solid, and it’s not spending too much on overhead. On the con side, there are few extras, and the complaint rates are bad.
“I’d put less weight on Aflac’s complaint rates than I would for larger companies, though. Because Aflac has few members so far, small numbers of complaints can really swing its overall complaint rate. Things might even out as Aflac gains more experience and more market share.”
Note: Since Medigap plan options can vary by location, it’s a good idea to do your research, compare multiple quotes and consider working with a licensed insurance agent for more personalized recommendations.
Aflac’s Medicare Supplement Insurance premiums tend toward the lower side. Aflac’s Medigap Plan G premiums were about 29% higher than the least expensive alternative offered in the same location, on average, in estimates obtained for this review. Plan N premiums were about 25% more expensive.
How we evaluate Medigap companies’ prices
The following price estimates were obtained for three metropolitan areas representing above-average, average and below-average costs for the most popular Medicare Supplement Insurance plans (Plan G and Plan N)
NerdWallet analysis of American Association for Medicare Supplement Insurance data. Best Costs Medigap 2024 – Plan G. Accessed Jul 30, 2024.
. (Note: Some Medigap prices may be higher for males.)
For comparison, the table for each plan also includes the price for the least-expensive option to buy the same plan from any company that filed prices. For example, Aflac’s price for Medigap Plan G in Los Angeles appears alongside the lowest price on Medicare.gov for all Plan G policies available in Los Angeles to an applicant with identical demographics.
Plan G
Aflac price
Medicare.gov lowest price
Los Angeles
$215.
$148.
Atlanta
$152.
$125.
Dallas
$132.
$109.
Plan N
Aflac price
Medicare.gov lowest price
Los Angeles
$164.
$114.
Atlanta
$104.
$95.
Dallas
$100.
$82.
Discounts
Aflac might offer a household discount to qualifying applicants who live with a spouse or certain other people. Discount amounts and availability may vary according to factors such as your location, household status and how you apply for a policy.
Aflac member complaints
233% more complaints than average
Members file complaints about Aflac’s Medicare Supplement Insurance plans at a rate about 233% higher than the average for all Medigap plans, according to 2022 and 2023 data from the National Association of Insurance Commissioners for Aflac and its subsidiaries that sell Medicare Supplement Insurance
National Association of Insurance Commissioners. Company Complaint Index. Accessed Jul 30, 2024.
. (The other 15.2% went to overhead expenses like administrative costs, marketing, salaries and commissions.) For comparison, the average for all companies is 80.4%.
Medicare Supplement Insurance providers must report data on the premiums they collect and how much they spend to provide benefits for members.The minimum required by law for individual Medigap policies is 60%
NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates pricing, complaint data, online quote availability, coverage options and more.
Medigap plans are standardized, but companies can offer extras on top of the Medicare benefits.
While some competitors offer extra perks like gym memberships or discounts on hearing aids and eyewear, Aflac doesn’t publicize similar extras for its Medicare Supplement Insurance policies.
Aflac Medicare Supplement Insurance service area
Aflac offers Medicare Supplement Insurance plans in 42 states and Washington, D.C. (Plans in Virginia are approved for offer but may not yet be available for sale.)
Aflac covers about 6,500 Medigap beneficiaries and has about a 0.06% share of the total Medicare Supplement Insurance market as of the end of 2022
(Note: Aflac announced the launch of its Medicare Supplement Insurance in August 2022, so the available member enrollment and market share data only includes the first few months of their availability.)
Compare Medicare Supplement Insurance companies
Get more information below about some of the major Medicare Supplement Insurance companies. These insurers offer Medigap plans in most states, but specifics may vary depending on your location.
Because Medigap plans are standardized, you can get precisely the same Medicare benefits from any company offering the plan. So when you shop, keep these considerations in mind to find the best policy to fit your needs:
Is your preferred plan available? Health insurance companies don’t always sell every plan, so check who sells the plan you want to buy in your area.
What are the premiums? Prices for the same plan can vary between companies, so check to find the most competitive rates.
Will your premiums change over time? Most policies cost more as you age, but some companies offer policies that let you lock in a price when you sign up.
Are there extras? Medigap plans’ core benefits are standardized, but in certain cases, some companies include such perks as discount programs or gym memberships.
If you have additional questions about Medicare, visit Medicare.gov or call 800-MEDICARE (800-633-4227, TTY 877-486-2048).
Medicare Supplement Insurance ratings methodology
NerdWallet’s Medicare Supplement Insurance (Medigap) ratings are based on pricing, discounts, plan types offered, complaint data from the National Association of Insurance Commissioners, consumer experience, additional perks and benefits, and more. To calculate each health insurance company's rating, we adjusted the scores to a curved 5-point scale, rounded to the nearest half star.
NerdWallet reviewed 13 Medicare Supplement Insurance companies based on highest enrollment and greatest online search volume. At the national level, our scored reviews include companies covering about two-thirds of all Medigap beneficiaries. At the state level, our research includes at least one of the two largest Medigap insurance companies in 48 of the 50 states, plus Washington, D.C.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best coverage and rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines and full ratings methodology for Medicare Supplement Insurance.
Insurer complaints methodology
We examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, we calculated a similar index for each insurance company, weighted by market shares of each subsidiary. We score companies based on this index of how many complaints the company receives relative to its market share. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
