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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AHIP Medicare Exam Prep 29, Part D Exceptions Appeals and Transition Fills
Monday, September 14, 2026 • Duration 03:56
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
AHIP Medicare Exam Prep 28, Part D Late Enrollment Penalties and Creditable Coverage
Sunday, September 13, 2026 • Duration 03:58
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
AHIP Medicare Exam Prep 27, Medicare Prescription Payment Plan
Saturday, September 12, 2026 • Duration 03:55
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
AHIP Medicare Exam Prep 26, Extra Help and Low Income Subsidies
Friday, September 11, 2026 • Duration 03:39
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
AHIP Medicare Exam Prep 25, Current Part D Benefit Phases and Cost Sharing
Thursday, September 10, 2026 • Duration 04:08
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
AHIP Medicare Exam Prep 24, Part D Covered and Excluded Drugs
Wednesday, September 9, 2026 • Duration 03:45
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
AHIP Medicare Exam Prep 23, Formularies Tiers and Utilization Management
Tuesday, September 8, 2026 • Duration 04:12
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
AHIP Medicare Exam Prep 22, PDP versus MA-PD Plan Selection
Monday, September 7, 2026 • Duration 04:00
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
AHIP Medicare Exam Prep 21, Part D Eligibility and Sources of Drug Coverage
Sunday, September 6, 2026 • Duration 03:27
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
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