Aflac Medicare Supplement Insurance 2024 Review

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 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.)

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.

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.

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 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%.

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 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.)