[Health Insurance] 45, Medicare Enrollment Periods and Late Enrollment Penalties

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 7-month window for the Initial Enrollment Period and how enrollment timing affects the coverage start date. - The specific dates for the General Enrollment Period (Jan 1 - Mar 31) and its fixed coverage start date of July 1. - How a Special Enrollment Period is triggered by the loss of active employer coverage, not the exhaustion of COBRA. - How to calculate the Part B penalty based on 10% for each full 12-month period of delayed enrollment. - The calculation for the Part D penalty, which is 1% of the national base premium for each month without creditable 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