What happens if I don’t update my application for financial assistance?

If you don’t update your information with the Marketplace, in most cases, the Marketplace will automatically adjust the amount of your premium tax credit for next year. If that turns out to be less than the amount you’re actually eligible for, you will have to pay more premium each month than you otherwise would have had to, although you can receive a refund for the rest when you file your federal tax return. On the other hand, if the automatically adjusted premium tax credit amount turns out to be more than you are actually eligible for, you will have to repay all or part of the difference paid on your behalf when you file your tax return. Note that for coverage in 2025, there are limits on how much you will have to repay if your income was less than 400% of the FPL ($62,600 for a household of one or $84,600 for a household of two in 2025). However, starting with coverage in 2026, Marketplace consumers will be expected to repay the full amount of any excess tax credits paid on their behalf.