Acronyms
Initial Enrollment Period
What is the standard premium for Part B?
$164.90
Corey turns 65 on June 8th and wants his Medicare to begin on June 1st. When's the earliest he can sign up?
March 1st
What is a premium?
Monthly payment to the government or insurance company that allows individuals to receive coverage
What's the name of everyone in this room?
...
SEP
Special Enrollment Period
What does Part A and Part B refer to
Hospitalization and Out-patient (Medical)
When is the General Enrollment Period?
From January 1 to March 31
What is a deductible?
The amount paid before the insurance begins to pay
What does an SOA refer to and what is it required for?
Scope of Appointment--required for any MAPD or PDP sale
How much Part B co-insurance is someone responsible for under Original Medicare?
20% with no out-of-pocket cap
Who qualifies for an SEP for the purpose of delaying Medicare enrollment?
Someone who is passed their IEP (65+) and works for an employer with 20 or more employees
What does Part B Out-patient coverage mean in Plain English?
Visits to the doctor's and specialists, also includes out-patient surgery, like a knee or hip, and services provided at the doctor's office like labwork, X-rays, CT Scans
Where are Chapter's physical offices located?
Phoenix and NYC (Side note: "I am located in...")
What does IRMAA stand for?
Income Related Monthly Adjustment Amount
What is the 2023 deductible for Part B?
$226
When does Part B SEP begin and end? Specify your answer in months.
Three months before the month the client leaves theirs or their spouse's work-provided coverage
Eight months after the month the client leaves theirs or their spouse's work-provided coverage.
But the client would experience a gap in coverage between leaving their work coverage and notifying Medicare, which is a no-no
What are the three steps in the Chapter sales process?
Parrot, Paint, Temp Check
How many states is Chapter licensed in?
All 50!
What is GEP and who does it apply to?
General Enrollment Period. Someone who missed IEP and SEP.
What is the 2023 deductible for Part A?
$1600 per stay
My birthday is February 1st and I need to sign up using my IEP. What's the latest Part B effective date I can receive?
April 1st
How does Chapter make money?
Chapter earns revenue from insurance companies, and it doesn't matter which plan type or specifically plan you choose. We allow you to shop across every plan available to you, including Medicare Supplement and Medicare Advantage
What's the name of our short book on Medicare?
It's Not That Complicated