If you enrolled in insurance coverage through the Health Insurance Marketplace, you are required
to report changes to the Marketplace when they happen, like changes to your
household income or family size, because they may affect your eligibility for
the advance payments of the premium tax credits.
Changes in circumstances that you should report to the Marketplace
include, but are not limited to:
·
increases
or decreases in your household income, including lump sum payments like a lump
sum payment of Social Security benefits
·
marriage
or divorce
·
the
birth or adoption of a child
·
starting
a job with health insurance
·
gaining
or losing your eligibility for other health care coverage
·
changing
your residence
For the full list of changes you should report, visit HealthCare.gov.
Reporting changes will help you avoid
getting too much or too little advance payment of the premium tax credit.
Getting too much means you may owe additional money or get a smaller
refund when you file your taxes. Getting too little could mean missing premium
assistance to reduce your monthly premiums. Therefore, it is important
that you report changes in circumstances that may have occurred since you
signed up for your plan.
When you report a change, you may be eligible for a Special
Enrollment Period. For more information, visit HealthCare.gov.
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