Changing 2016 plans: With Special Enrollment Period only
You can change Marketplace insurance plans outside Open Enrollment only if you qualify for a Special Enrollment Period due to a life change like getting married, having a baby, or losing other coverage.
Updating your 2016 coverage: All year when you have life changes
You should update your 2016 Marketplace information all year by reporting any changes to your income and household.
- Some changes – having a baby, adopting a child, getting married, or losing other coverage, for example – will qualify you for a Special Enrollment Period.
- If you report an income change but don’t qualify for a Special Enrollment Period, you can adjust the amount of premium tax credit you take in advance every month. This will make sure your savings stay right for your income level all year.
- If your income goes up, you may be taking more advance payments of your premium tax credit than you qualify for. If you don’t update, you may have to pay money back on your next federal tax return.
- If your income goes down, you may be able to take more advance payments of your premium tax credit, lowering what you have to pay for premiums each month. You also could qualify for free or very-low-cost coverage through Medicaid or the Children’s Health Insurance Program (CHIP) instead of a Marketplace plan.
Cancelling your 2016 plan
If you get other health coverage during the year or for some other reason need to cancel your 2016 health plan, you can do that any time. You can cancel coverage for everyone in your household or just certain people.
Our counselors and navigators are available any time to help you make changes to your coverage. Schedule a free appointment today online or by calling 1-800-648-1176.