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Insurance Suffolk Brokerage What is Aflac?
Aflac is insurance for daily living. It helps covered persons by paying them cash benefits, unless assigned, to help with out-of-pocket expenses that arise from covered accidents or illnesses. In the event of a covered loss, cash is paid to covered persons regardless of any other insurance they may have.
How can I apply for Aflac insurance?
Aflac insurance policies can be obtained on an individual basis or made available by your employer. However, it is always better to apply if it is made available by your employer to take advantage of payroll rates and possible pre-tax, payroll deductions.
How many employees are required for payroll accounts?
Aflac requires that at least three employees apply for at least one policy type to be considered a payroll account.
How much does Aflac cost our company?
There are no direct costs to your company. You may even have possible tax savings when employees pay their premiums with pre-tax payroll deductions.
How much do Aflac policies cost for employees?
Prices vary and may be based on plan type, age of applicant, and level of coverage.
How much administration is required for employers who enroll in Aflac services?
Virtually none. Aflac agents are sent to the employer facility for all enrollments, and there is a service center that handles all claims or billing issues. The only administration required by the employer is processing a monthly billing reconciliation. This can also be done online for even more administrative ease.
Our company uses a third-party payroll company. Does it cost us more money to have them process Aflac payroll deductions?
No. The fees you pay third-party companies to process payroll typically include Aflac premium deductions.
Do we need to wait for our group health insurance open enrollment to apply for Aflac policies and services?
No. Aflac operates on its own cafeteria plan, and is completely independent of your major medical health insurance.
What happens if an employee covered by Aflac leaves the company?
Simple … you indicate the employee has terminated employment on the monthly billing reconciliation. The covered person now has the choice to pay premiums directly or to jump onto the new employer’s Aflac payroll group to take advantage of pre-tax savings. All Aflac policies are portable.
Aflac
Aflac Frequently Asked Questions
Coverage underwritten by American Family Life Assurance Company of New York.
FAQs
Fortunately, Aflac offers affordable coverage. Many Aflac policies range anywhere from $8 to $25 or more per month. You can contact Aflac directly for more information on specific supplemental insurance plans that pique your interest.
What will Aflac pay me for? ›
Aflac can help pay for ambulance trips, physical therapy, CT Scans, MRIs, confinement, blood transfusions, and medical appliances.
What does Aflac not cover? ›
We will not pay benefits for confinement to an observation unit, or for emergency room treatment or outpatient treatment.
How is Aflac different than regular insurance? ›
Optional Critical Illness Rider - Pays cash for stroke, heart attack, etc. Aflac is different from major medical insurance; it's insurance for daily living. Aflac pays cash benefits to the policyholder, to use as they see fit. Aflac benefits can help with unexpected expenses.
Will Aflac cover surgery? ›
Surgical Benefit Aflac will pay $100–$2,000 when a covered person has surgery performed for a covered sickness in a hospital or ambulatory surgical center based upon the Schedule of Operations in the policy.
Does Aflac pay monthly? ›
Aflac expresses benefit amount in scheduled monthly amounts based on the employee's gross salary and the monthly benefit selected. Note: Aflac is not a provider of Long-Term Disability Insurance. To file a claim, use the link under Contact Information below.
Is Aflac good or bad? ›
Aflac is a financially sound and competitively priced insurer that provides a wide range of term and whole life policies and riders, adding more flexibility for consumers.
Is there anything better than Aflac? ›
Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE:PRU) is one of the best alternatives to Aflac with 18 million customers on board. Prudential Financial, Inc. (NYSE:PRU) provides a range of supplemental health benefits.
Does Aflac pay for Dr. visits? ›
Pays $25 for visits (including telemedicine) to a physician, psychologist or urgent care center. Limited to 3 visits per calendar year, per policy. Limited to 6 visits per calendar year, per policy. Laboratory test and X-ray benefit Pays $35; limited to 2 payments per covered person, per calendar year.
What are the benefits of having Aflac? ›
Helps with out-of-pocket costs if you experience a covered health event. Provides a lump-sum cash benefit if you're diagnosed and treated for a covered critical illness event. Helps ease the financial burden associated with hospital stays due to a covered accident or illness by providing cash benefits.
When Aflac denies your claim, they must provide you with the reason. The main reason why they will deny your claim is they do not think you meet the plan's definition of disabled.
Can Aflac deny coverage? ›
Decline: An applicant is denied coverage with Aflac for specified reasons. Denial: The process of reviewing a claim and deciding that, due to the terms of the policy contract, no benefits are due for the claim.
Is aflac supplemental insurance a good idea? ›
In addition, supplemental insurance is a great choice for you if you believe you're at risk for illnesses that necessitate high-cost treatments. If you have a family history of cancer, for example, it's worth considering cancer insurance coverage, since you likely have a higher risk of being diagnosed with the disease.
What percent does Aflac pay? ›
The Aflac group disability plan benefits:
Benefits are paid when you are sick or hurt and unable to work, up to 60 percent of your salary (up to 40% in states with state disability). Minimum and Maximum Total Monthly Benefit – $300 to $6,000.
What is better than Aflac? ›
The best overall Aflac Incorporated alternative is Lumity Benefits Solution. Other similar apps like Aflac Incorporated are Insperity, Deloitte Consulting, ADP Comprehensive Services, and Zenefits Services.
What is the most expensive health insurance? ›
Platinum health insurance is the most expensive type of health care coverage you can purchase. You pay low out-of-pocket expenses for appointments and services, but high monthly premiums. Plans typically feature a small deductible or no deductible and cheap copays or coinsurance.
