Question: What qualifies as a major life change?

Friday, May 22, 2015

Q. I just read an article that said I should report a major life change to the Health Insurance Marketplace. What qualifies as a major life change and how do I report it?

A. Take a close look at the list below:

  • Expecting a baby this year?
  • Getting married or divorced between now and December 31st?
  • Have you gotten health insurance through your employer or became eligible for Medicare or Medicaid in 2015?
  • Do you expect to move this year?
  • Are you becoming a US citizen this year?
  • Are you planning to change your name or correct your birthdate?

    • If you answered yes to any of these questions, you are expecting or have had a major life change and these changes should be reported as soon as possible to the Health Insurance Marketplace because any and all of these changes will impact the amount of coverage or savings you are qualified to receive.

    You can report the changes in one of two ways, either by phone or online. To report a change by phone call 1-800-318-2596 and to make the change online, visit www.healthcare.gov and log into your existing account and use the menu list on the left side of the page. You can even upload documents, if necessary. DO NOT REPORT THE CHANGE BY MAIL.

    Have another question or need clarification on a different tax topic? Contact us via email and one of our CPAs will respond to you within 24 hours.