Aflac
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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.
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Written by Alex Rosenberg
Lead Writer
The bottom line: 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. Jump to: Full Review
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Aflac Medicare Supplement pros and cons
Pros
Lower prices: While not the absolute lowest, Aflac’s premiums are cheaper than many competitors.
Spending on care: Aflac spends more on member benefits and less on overhead than the average Medicare Supplement Insurance company.
Cons
Complaints: Aflac members file complaints about their Medigap policies at rates much higher than the average for all companies.
Few extras: Aflac doesn’t advertise any added perks, such as fitness memberships or hearing and vision discounts, which are common from competitors.
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Our full review
Why trust NerdWallet
Aflac Medicare Supplement Insurance rating
3.0
NerdWallet ratingAflac 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.
Aflac Medicare Supplement plan types
Here are the Medicare Supplement Insurance plan types Aflac offers for any Medicare member:
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.
— Alex Rosenberg, lead writer covering Medicare
Cost for Aflac Medicare Supplement Insurance
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
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.
NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Aflac’s spending on care
84.8% for member benefits
Aflac Medigap plans spent about 84.8% of premiums on member benefits, according to the most recent annual data. (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%.
Additional benefits
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.
Find the right Medicare Supplement Insurance plan
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).
Aflac
Aflac offers lower prices than many competitors, but its complaint rates are high, and there are few plan choices or extra perks.
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Plan types offered
A, F, G and N.
NAIC complaint rate
Far more than expected
Premium discounts available
Below average
Plan types offered
A, F, G and N.
NAIC complaint rate
Far more than expected
Premium discounts available
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.
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 15 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.
