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Topics Covered:
Why It’s Important to Update Your Health Insurance Details After Enrollment
Once you’re enrolled in a Marketplace health insurance plan, it’s essential to keep your information up to date, especially if there are changes in your income or household. These changes could impact your coverage options or the savings you're eligible for, so it’s important to update your application as soon as possible.
Changes You Should Report to the Marketplace
1. Income Changes
If you expect your income to increase or decrease, report it. This can affect the amount of financial assistance you're eligible for. Unsure how to estimate your income? We provide tools to help you.
2. Health Coverage Changes
If anyone in your household receives a new offer of job-based insurance (even if they don’t enroll), you should report it.
If someone in your family becomes eligible for Medicaid, CHIP, or Medicare, this could affect your Marketplace coverage.
If a household member loses coverage, such as through a job, Medicaid, or other sources, it’s essential to report this change.
Note: If someone in your household gains job-based coverage, you may need to end your Marketplace plan.
3. Household or Family Member Changes
Report if there’s a new addition to your household, such as a birth or adoption.
If you place a child for adoption or foster care, that should be reported.
Other important changes include becoming pregnant, getting married or divorced, or if a child on your plan turns 26.
If you gain or lose a dependent in any other way, make sure the Marketplace knows.
4. Moving
If you move to a new permanent address within the same state, update your information. But if you’re moving to a new state, there are additional steps you'll need to take—don’t just update your address.
5. Corrections and Status Changes
Corrections to basic information like name, date of birth, or Social Security Number should also be updated.
If your disability status, tax filing status, citizenship, or immigration status changes, these updates are crucial.
Changes in your status as an American Indian/Alaska Native or tribal member, or if you become incarcerated or are released, should also be reported.
By keeping your Marketplace application up to date with these changes, you ensure you're getting the correct savings and coverage options for your current situation.
Why Reporting Changes is Important
If your income increases or you lose a household member: You might qualify for less savings, which could result in owing money when you file your federal taxes. Reporting these changes right away helps avoid any surprises.
If your income decreases or you add a household member: You could qualify for even more savings! This might reduce your monthly premiums or make you eligible for free or low-cost coverage through programs like Medicaid or CHIP.
How to Report Changes
Updating your application is easy. Just contact one of our local Nebraska pros and make the necessary adjustments to your income or household details. This ensures you're always receiving the right amount of savings and the right coverage for your situation.
Important Deadlines for 2025 Plan Updates
Remember, you can update your information at any time throughout the year, but the best time to make sure everything is current is during open enrollment.
Don’t forget—open enrollment for 2025 health insurance runs from November 1st, 2024 to January 15th, 2025!
Ready to Update Your Health Insurance Plan?
Take just a few minutes to review and update your coverage for 2025 with us. It’s fast, easy, and free—get started now!