Monday, November 3, 2014


Report Changes in Circumstances that May Affect Your Premium Tax Credit

If you enrolled in health care insurance coverage through the Health Insurance Marketplace , you are required to report changes to the Marketplace when they occur. This includes changes to your household income or family size, because these amounts may affect your eligibility for advance payments of the premium tax credit that is utilized to reduce your monthly health insurance premiums costs.

There is still time left this year to report changes. 

Reporting changes will help you avoid getting too much or too little advance payment of the premium tax credit.  The result of getting too much premium tax credit is that you may owe additional taxes when your income tax returns are filed or you may qualify for less federal refund.  The result of getting too little premium tax credit is that you may be missing out on valuable health care insurance premium assistance that reduces monthly premiums you personally pay. Therefore, it is important that you report changes in circumstances that may have occurred since you initially signed up for your health care insurance plan.  

Here are some common changes that require immediate reporting:
Any increase or decrease in your income 
Marriage or divorce 
The birth or adoption of a child 
Starting a job that provides health insurance benefits for their employees 
Gaining or losing your eligibility for other health care coverage 
Changing your residence
For the full list of changes you should report, visit

To find out more about the premium tax credit and other tax-related information about the health care law, visit IRS.gov/aca.

The Internal Revenue Service has videos explaining the premium tax credit available on the

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