How often during the year can I adjust my premium tax credit amount? What documentation is required to make an adjustment? How long after I request the adjustment will it take effect?

Individuals with no coverage | How Premium Tax Credits And Cost-Sharing Reductions Work |

There is no limit to the number of times a person may report income, family, or insurance-eligibility changes to the Marketplace. Changes that are reported by enrollees will be verified by the Marketplace. Then, the Marketplace will send you a notice (called a redetermination notice) showing your revised eligibility for premium tax credits and cost-sharing reductions. In addition, people can always ask the Marketplace to provide them with a monthly advance premium credit below the amount the Marketplace determines based on the household’s income if they want to minimize the chance of needing to owe money at the end of the year.

If you remain enrolled in the same plan, the Marketplace will notify your insurer of the change to your tax credits and can immediately adjust the premium amount you owe. If there is an issue verifying your income change, you may receive a data matching issue notification in the mail but the change in your advance premium tax credit will not be delayed. (45 C.F.R. § 155.330.)

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