Change or Update Your Plan Reporting changes

Reporting income and household changes: what you need to know

Watch Video

Enrolled in a 2016 plan? Report household or income changes ASAP.

If you enrolled in or renewed a plan for 2016 and your income or household change, you should update your application as soon as possible.

When you update your information, the amount of premium tax credit you can take in advance may change. Your savings on out-of-pocket costs and coverage options could change too.

Need to cancel your Marketplace plan? See how.

Why you should report changes immediately

  • If your income goes up or you lose a member of your household: You may qualify for less savings than you’re getting now. If you don’t report the changes, you could wind up having to pay money back when you file your federal tax return for the year.
  • If your income goes down or you gain a household member: You could qualify for more savings than you’re getting now. This could lower the amount you pay in monthly premiums. You could also qualify for Medicaid or CHIP coverage.

Learn more from the IRS about how household and income changes can affect your premium tax credit.

How to cancel your plan

With some life changes – like starting Medicare coverage or getting a job-based plan – you may need to cancel your Marketplace health plan. You may want to cancel your plan for other reasons.

Learn how to cancel your plan.

Take action to report changes

 
 

Ready to obtain the right health insurance? Check your eligibility for free or low cost health insurance through the marketplace in 4 simple steps...