[Health Insurance] 12, Coordination of Benefits

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 main purpose of Coordination of Benefits (COB) is to prevent receiving payments that exceed 100% of the cost of services. - How to determine the primary payer when an individual is covered under their own employer's plan and a spouse's plan. - The "Birthday Rule" makes the primary payer the parent whose birthday comes earlier in the calendar year, regardless of age. - How a divorce decree or custody arrangement can override the standard Birthday Rule for dependent children. - The difference in payment responsibility between a primary plan, which pays first, and a secondary plan, which covers remaining 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