Renewing Marketplace Coverage

I received financial assistance this year – a premium tax credit reduced my monthly health insurance premium. I want to continue financial assistance next year. What should I do?

You should return to the Marketplace to update your application for financial assistance.  You can do this on your own, either by logging in to your account on the website or by calling the Marketplace call center.  Or you can visit a Navigator or other in-person assister in your community.  Your Marketplace web site and call center will have contact information for in-person assisters near you.

If you don’t update your application by the end of Open Enrollment, in most cases and in most states, the Marketplace will automatically adjust the amount of your premium tax credit for next year. The automatic adjustment will be based on a rough inflation adjustment to your most recently reported income and on changes in the cost of the benchmark silver plan in the Marketplace next year.

Updating your application is a good idea because, chances are, the amount of premium tax credit you will be eligible for next year will be at least somewhat different from the current amount, and automatic adjustments made by the Marketplace may not fully reflect your situation. It is important to report any changes in your household income and your family status so your eligibility determination will be up to date and so the amount of financial assistance you receive next year will be as accurate as possible.

While we have made every effort to provide accurate information in these FAQs, people should contact the health insurance Marketplace or Medicaid agency in their state for guidance on their specific circumstances.

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The independent source for health policy research, polling, and news, KFF is a nonprofit organization based in San Francisco, California.