Why and How To Report Income & Household Changes To The Marketplace
If you’ve registered in a Marketplace program and your household size and income changes, update your enrollment form as soon as possible. These changes might affect the coverage or savings to which you are entitled. If you don’t report them, you may be eligible for more savings than you currently get or end up having to pay the cashback when you register 2021 taxes next year.
How to Report Changes in Income and Household
- You notify the changes to the Marketplace program by updating your enrollment form.
- Find out about the types of changes you need to report by searching your state’s company website.
- You can update your information in person, online, or over the phone, but not by email.
What to Do if You Relocate
- If you’ve relocated within the same region, you must update your application form online.
- If you relocated to a new state, begin a new registration in your new state:
□ When you shift to a new state, you cannot maintain your health plan from your old region.
□ Report out-of-state relocations as soon as possible so that you can sign up for a new plan without any delay and avoid paying for insurance that doesn’t work in your new state.
Learn more about reporting changes to your health insurer by visiting Insurance Shopping.
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About the Author: Daniel Greene
Driven by a passion for simplifying complex topics, I serve as a dedicated writer for Insuranceshopping.com, focusing on demystifying insurance matters for everyday consumers. I find immense fulfillment in empowering individuals to navigate the intricacies of insurance shopping with confidence and clarity.
As a writer, I delve into various aspects of insurance, aiming to provide clear explanations and practical advice on coverage options, policy terms, and cost-saving strategies. I'm committed to ensuring that my articles, guides, and digital content are accessible to all, regardless of their level of insurance knowledge.
Understanding the challenges individuals face in navigating insurance options motivates me to advocate for simpler, more user-friendly approaches. I believe that everyone deserves to have a clear understanding of their insurance needs and options, and I strive to provide valuable insights to achieve this.
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Through my work, I aim to shift perspectives, enlighten minds, and promote a more informed approach to insurance shopping. As an author unafraid to challenge the status quo, I use my expertise and creativity to provide valuable insights and empower readers to make informed insurance decisions.
