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My income will be very different next year than it was this year. How will this impact my health Insurance subsidy?

When reviewing your application for subsidies, the exchange will compare your estimated income for next year with the most recent information available about the previous year’s income – typically your tax return. If the difference between the two numbers is significant, you may be asked to provide additional documentation for the change.

Requests for additional documentation are often vague, and it can be difficult to know what the exchange wants to see. In general, you should send in anything that might back up what you have said about the changes in your income. This could include a letter from your employer or pay stubs. In some situations, a signed statement explaining what has happened and how you arrived at your estimate, complete with your name and ID number, may suffice. Make sure that any important documents you submit are copies and not originals. If you’re having difficulties or are still confused about what might qualify as documentation, seek out a navigator or other exchange expert.

You will typically have 90 days to present the required documentation. During that time, you will be able to receive subsidies matching the income you estimated. However, if you fail to provide sufficient documentation for the change in income, your subsidy will be adjusted to the most recent information available to the exchange and you may have to pay back any excess subsidies that you received during that 90-day period.

Once you have submitted sufficient documentation and the exchange has verified your change in income, you will receive a redetermination notice showing your revised eligibility for subsidies.

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My income will be very different next year than it was this year. How will this impact my health Insurance subsidy?

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