Editors Note: AFLAC Medicare supplements have been taken off the market and are no longer for sale until further notice. Our independent insurance agency is now offering Medicare supplement insurance from AFLAC direct to seniors. We provide enrollment for those who are new to Medicare as well as those who would like to lower rates on their existing coverage.
AFLAC is best known for disability and voluntary insurance coverage, but they are now offering very competitive supplemental insurance prices in several states. There are several reasons that they may be a good choice for your Medicare insurance needs.
American Family Life Assurance Company of Columbus was founded in 1955 and is most associated with their ubiquitous duck commercials and advertisements. AFLAC is a Fortune 500 company with over $117 billion dollars under management. They have an A+ rating from A.M. Best which translates to “excellent.”
For many years, their business operations focused on ancillary benefits in the group and individual marketplace. Their primary focus was on disability income replacement, life insurance, and specialty reimbursement policies. A logical next step was to offer ancillary coverage in the senior markets.
Medicare supplement policies are straight-forward in what must be covered. A Plan F is a Plan F. No company can offer more or less coverage than what is mandated by the Centers for Medicare and Medicaid Services – CMS for short. When CMS updates the coverage requirements, all companies and plans most change accordingly.
AFLAC offers the most commonly purchased supplemental plans purchased by most seniors. Medigap Plans A, C, D, F, G, and N are all available. At this time, they are not offering Medicare Select (network driven) coverage or High Deductible Plan F.
Traditional policies from AFLAC will be accepted by any doctor or hospital that accepts Medicare assignment. In other words, it does not matter who you purchase your Medicare supplement insurance from – you will be covered by any medical professional that accepts Medicare. This is true whether your carrier is United Healthcare, Anthem or any other smaller Medigap insurance provider.
All companies use different actuarial methods to calculate your rates. Most companies (AFLAC included) will determine your rates based on your current age, state and zip code of residence, marital status, and payment method.
AFLAC is somewhat unique in that they offer a 7% discount when both spouses purchase Medicare supplement insurance and are accepted. In many areas of the country, this marital discount will help to offer much lower rates than their competition.
You and your spouse do not need to purchase the same plan to enjoy this savings. One spouse can enroll in Plan F and the other in Plan G. So long as both are accepted, then each spouse will receive 7% off of their premiums. You can also reduce your rates by $2 a month if you choose to pay using a monthly bank draft.
Our independent agency offers the direct rates from all carriers we partner with. You will not find better rates anywhere else online or in person. We are proud to be a one stop shop for all types of senior specific policies.
We represent several companies in several states to help our clients find the Medigap insurance that best suits their needs and budget. Contact us today to find out more about AFLAC Medicare supplement insurance in your area.
Category: Medicare Supplements