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Insurance Exam Prep

Ran Chen, EA, CFP®

Insurance Exam Prep is a daily podcast designed to help future insurance professionals pass their licensing exams with clarity and confidence.

Built and operated by OpenExamPrep, this podcast breaks down insurance licensing exams into focused, easy-to-digest episodes covering Life Insurance, Health Insurance, and Property & Casualty, across both the national portion and state-specific requirements. Each episode targets one key concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions.

Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Insurance Exam Prep was developed from firsthand experience with how complex—and often poorly taught—insurance exam material can be. The goal is simple: make insurance exam preparation clearer, more accessible, and more effective through structured explanations and modern learning tools. Whether you’re preparing for a Life, Health, or P&C exam, just starting your licensing journey, or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time.

Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/

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  • September 17 · 3 min

    AHIP Medicare Exam Prep 32, Permission to Contact and Unsolicited Outreach

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Unsolicited outreach methods such as cold calling, door-to-door visits, and leaving materials on doors are strictly prohibited by CMS rules. - Client referrals cannot be directly contacted by an agent unless the referral initiates contact or explicit prior permission is secured. - Business Reply Cards (BRCs) grant permission to contact that is strictly limited in scope to the requested product types. - Inbound calls permit answering the caller's immediate questions but do not grant broad authorization for future unsolicited calls or home visits. - Permission to contact is fact-specific, non-transferable, limited in duration, and summarized by the rule that permission is Specific, Sole, and Short-lived. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 16 · 3 min

    AHIP Medicare Exam Prep 31, Communications versus Marketing

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Difference between Medicare communications and marketing based on intent and plan-specific content - Regulatory impact of classification, including HPMS submission, disclaimers, and agent conduct rules - Scenario applications involving mailers, websites, educational materials, and plan-comparison tools - Common exam traps where including specific copays or star ratings reclassifies educational material into marketing - The mental shortcut content creates classification to quickly distinguish marketing from communications on the AHIP exam For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 15 · 3 min

    AHIP Medicare Exam Prep 30, Solving Part D Plan Comparison Questions

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to evaluate Part D plans based on total estimated annual cost rather than monthly premium alone - A step-by-step comparison process for verifying drug dosages, formulary status, and tier placement - How utilization controls like prior authorization and step therapy impact actual drug coverage - Why pharmacy network status can significantly change out-of-pocket copayments and coinsurance - The DFTV mnemonic to easily recall the essential steps for Part D plan comparison questions For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 14 · 3 min

    AHIP Medicare Exam Prep 29, Part D Exceptions Appeals and Transition Fills

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How coverage determinations, formulary exceptions, and tiering exceptions function under Medicare Part D. - Why specialty tier medications are strictly excluded from tiering exception requests on the exam. - The critical difference between grievances for service issues and appeals for coverage denials. - Timeframes for standard 72-hour and expedited 24-hour review requests involving prescribers. - Rules governing 30-day transition supplies during the first 90 days of new plan enrollment. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 13 · 3 min

    AHIP Medicare Exam Prep 28, Part D Late Enrollment Penalties and Creditable Coverage

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A continuous gap of 63 days or longer without creditable drug coverage triggers the Medicare Part D late enrollment penalty. - Penalty calculations count only full calendar months without creditable coverage, ignoring partial months. - The monthly penalty equals one percent of the current national base beneficiary premium multiplied by full uncovered months. - Preserving annual notices of creditable coverage provides essential proof to avoid improper penalty charges when switching plans. - Beneficiaries receiving Extra Help or Low-Income Subsidy are exempt from paying the Part D late enrollment penalty. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 12 · 3 min

    AHIP Medicare Exam Prep 27, Medicare Prescription Payment Plan

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How the Medicare Prescription Payment Plan spreads out-of-pocket Part D costs across remaining calendar months - Why the program changes payment timing without altering drug prices, copays, or total out-of-pocket costs - How monthly payment amounts are calculated based on when in the calendar year costs are incurred - Voluntary election rules, including opt-in timing during AEP or mid-year - Mandatory Part D sponsor outreach requirements for high-cost beneficiaries and common exam traps For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 11 · 3 min

    AHIP Medicare Exam Prep 26, Extra Help and Low Income Subsidies

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - What Part D Extra Help is and how it reduces premiums, deductibles, copayments, and waives late enrollment penalties - How automatic deeming works for Dual eligibles, SSI recipients, and Medicare Savings Program enrollees - How CMS plan reassignment protects LIS beneficiaries when standalone plan premiums exceed benchmarks - Why agents must verify current LIS status instead of guaranteeing specific subsidy amounts or copays - The DSM mental shortcut to quickly recall automatic eligibility categories on the AHIP exam For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 10 · 4 min

    AHIP Medicare Exam Prep 25, Current Part D Benefit Phases and Cost Sharing

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The current CMS standard Medicare Part D structure features three benefit phases (deductible, initial coverage, catastrophic coverage), completely eliminating the legacy coverage gap or donut hole. - Maximum standard deductible caps are set by CMS at $590 in 2025 and $615 in 2026, after which beneficiaries pay 25% cost-sharing under defined standard benefit design. - Beneficiary out-of-pocket spending is capped at the True Out-of-Pocket (TrOOP) threshold of $2,000 in 2025 ($2,100 in 2026). - Beneficiaries pay $0 cost-sharing in the catastrophic coverage phase, as the former 5% coinsurance requirement has been eliminated. - TrOOP calculations include beneficiary out-of-pocket costs and manufacturer discounts for covered drugs, but strictly exclude plan premiums and non-formulary drug costs. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 9 · 3 min

    AHIP Medicare Exam Prep 24, Part D Covered and Excluded Drugs

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to determine whether a drug falls under Medicare Part A, Part B, or Part D - The specific categories of drugs statutorily excluded from basic Part D coverage - Key vaccine coverage rules separating Part B preventive shots from Part D vaccines - How enhanced Part D plans differ from basic plans regarding supplemental drug coverage - The three-step evaluation framework to avoid common trap questions on the AHIP exam For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 8 · 4 min

    AHIP Medicare Exam Prep 23, Formularies Tiers and Utilization Management

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How Medicare Part D plans structure formularies into drug tiers from Tier 1 generics to Tier 5 specialty drugs - Why cross-referencing both specific medications and preferred network pharmacies is essential for accurate cost estimates - The mechanics of utilization management tools including prior authorization, step therapy, and quantity limits - Rules surrounding mid-year formulary changes, sixty-day advance notices, and immediate FDA safety exceptions - The PSL mental shortcut to quickly identify Part D coverage restrictions on exam questions For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 7 · 4 min

    AHIP Medicare Exam Prep 22, PDP versus MA-PD Plan Selection

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How Original Medicare and Medigap beneficiaries pair with stand-alone PDPs for compliant Part D coverage. - Why enrolling in a stand-alone PDP while in a standard HMO or PPO causes automatic disenrollment from Medicare Advantage. - The two major plan exceptions—MSA plans and non-drug PFFS plans—that allow stand-alone PDP enrollment. - The risk of losing retiree and dependent health benefits when enrolling in Part D alongside employer group coverage. - How automatic disenrollment functions when switching between PDPs and MA-PD plans during valid enrollment periods. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 6 · 3 min

    AHIP Medicare Exam Prep 21, Part D Eligibility and Sources of Drug Coverage

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Key differences in eligibility requirements for stand-alone PDPs versus MA-PD plans - The concept of creditable drug coverage and how it prevents late enrollment penalties - The critical risk of losing employer or union health benefits when enrolling in Part D - How incompatible plan combinations trigger automatic disenrollment from Medicare Advantage plans - A memorable mental shortcut for predicting the outcome of adding a PDP to existing coverage For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 5 · 4 min

    AHIP Medicare Exam Prep 20, Medicare Advantage Election Scenarios

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to identify and select the valid Medicare Advantage election period before analyzing plan features. - The differences between ICEP, AEP, and MA OEP rules and timing. - Key triggers for Special Enrollment Periods such as moving, losing creditable coverage, or SNP eligibility. - Common exam traps regarding disenrollment rules and MA OEP limitations. - The PERIOD mental shortcut to systematically solve multi-step AHIP scenario questions. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 4 · 3 min

    AHIP Medicare Exam Prep 19, Organization Determinations Appeals and Grievances

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The exact criteria that distinguish an organization determination, an appeal, and a grievance on the AHIP exam. - How to evaluate standard versus expedited pathways based on beneficiary health risks and pre-service versus payment status. - Key differences between coverage/payment disputes and quality-of-care complaints. - Common exam traps involving dual-issue scenarios where appeals and grievances apply at the same time. - A quick mental shortcut to instantly identify the correct administrative process in scenario questions. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 3 · 3 min

    AHIP Medicare Exam Prep 18, Star Ratings and Medicare Plan Quality

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How CMS Star Ratings evaluate Medicare Advantage and Part D plans on a 1-to-5 star scale across key performance categories. - Why Star Ratings reflect aggregate past performance and can never be represented as a guarantee of individual health outcomes. - The specific eligibility parameters and once-per-calendar-year rule for the 5-Star Special Enrollment Period. - How CMS flags low-performing plans rated below 3 stars for three consecutive years. - A memorable mental shortcut to remember key Star Rating rules and compliance boundaries on exam day. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 2 · 4 min

    AHIP Medicare Exam Prep 17, MA Benefits Networks Prior Authorization and Cost Sharing

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How network rules differ across HMO, HMO-POS, PPO, and PFFS Medicare Advantage plan models. - Why prior authorization can never be required for emergency or urgently needed services. - The distinction between HMO PCP referral requirements and PPO direct specialist access. - How mandatory Maximum Out-of-Pocket limits function for in-network and combined care. - Why supplemental benefits vary by plan and carry strict caps rather than standardized unlimited coverage. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • September 1 · 3 min

    AHIP Medicare Exam Prep 16, D-SNPs and Medicaid Benefit Coordination

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How Medicare operates as the primary payer while Medicaid acts as the secondary payer of last resort in D-SNP benefit coordination. - The distinction between Full Benefit Dual Eligibles (FBDE) and Partial Duals (QMB, SLMB, QI) to avoid assuming full Medicaid benefits. - How integrated plan designs like FIDE SNPs and HIDE SNPs streamline Medicare and Medicaid coverage and administration. - The mechanics of the Dual/LIS Special Enrollment Period, including quarterly usage rules and state-level contract variations. - Why verifying a beneficiary's specific Medicaid eligibility tier is crucial for avoiding common AHIP exam traps. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • August 31 · 3 min

    AHIP Medicare Exam Prep 15, Special Needs Plans D-SNP C-SNP and I-SNP

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Key differences in target populations and eligibility for D-SNP, C-SNP, and I-SNP. - Why qualification for one SNP type never automatically establishes eligibility for another. - Strict C-SNP physician verification rules and disenrolling unverified enrollees. - Residence and level of care requirements specific to I-SNP enrollment. - How Health Risk Assessments and Interdisciplinary Care Teams structure SNP care coordination. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • August 30 · 4 min

    AHIP Medicare Exam Prep 14, PFFS and Medicare Savings Account Plans

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How Private Fee-for-Service (PFFS) provider terms and conditions work on a visit-by-visit basis - Network variations in PFFS plans including full, partial, and non-network structures - The unique standalone Part D enrollment rules for PFFS and MSA plans - How the high deductible and CMS deposit structure operates in Medicare Medical Savings Accounts - Key exam traps surrounding MSA drug coverage limitations and out-of-pocket gaps For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

  • August 29 · 3 min

    AHIP Medicare Exam Prep 13, Medicare Advantage PPO Rules

    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Out-of-network providers are not obligated to treat PPO members for non-emergency or non-urgent care. - PPO plans do not require primary care physician selection or specialist referrals. - Differential cost sharing results in higher out-of-network copayments and coinsurance. - PPO rules require both an in-network MOOP and a combined in-network and out-of-network MOOP. - The FLEX mnemonic for remembering key PPO exam rules and avoiding common test traps. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

Showing 41–60 of 77 episodes