Moving to a new home can be exciting but stressful. Between packing, finding a new school for your kids and handling all the other details of your move, there may be some things you forget to add to your to-do list. Here’s a quick reminder, if you’re enrolled in a plan from the Health Insurance Marketplace and receive advance payments of the premium tax credit, you need to inform them of your move.
By reporting your change of address, the Marketplace is able to update your records, determine your plan eligibility and adjust your credit to ensure you receive the appropriate amount of financial assistance. If you receive more financial aid than you deserve, you may owe money when you file your tax return. Choose ezTaxReturn for your filing needs. We make it easy to report your premium tax credit by asking simple, jargon-free questions to complete your return.
Moving isn’t the only life event that needs to be reported to the Marketplace. If you experience any of the following changes, you need to let them know.
• Increase or decrease in salary
• Adoption or birth of a child
• Marriage or divorce
• Starting a new job that offers health insurance
• Losing your eligibility for health coverage
Your change in circumstance may qualify you for a special enrollment period. If you qualify, you’ll have sixty days to enroll in a new Marketplace plan. You can report your move and any other changes by logging into your Marketplace account at HealthCare.gov.