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Will household income change?Please report to Marketplace as soon as possible

published to September 24, 2015

It is important to notify the marketplace as soon as possible of any changes in household income. Your new income may affect your eligible health insurance and savings.

If your taxable income is reduced You may be able to save more than you are now. This allows you to lower your monthly premium payments. You may also qualify for savings on out-of-pocket expenses such as deductibles and out-of-pocket expenses. Alternatively, you may be eligible for free or low-cost coverage through Medicaid or CHIP in lieu of Marketplace insurance plans.

If your taxable income increases: You may have less savings than you do now. If you don’t report the change in household income promptly, you may have to refund it when you file your 2015 income tax return.

We’ve improved the way you update your household income in the Marketplace application, making it easier than ever.

Please follow these steps:

  • Log in to your Marketplace account and select your 2015 application
  • Select “Report a life change” from the menu on the left
  • Select the “Report Life Change” button and update your income
  • Follow the steps to review the application information and confirm your plan selection

Important Health Insurance Tip: You must click through to the last screen for changes to take effect.

Ready to update your earnings? Log in here.

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