Reporting Changes to Covered California

Do you receive your health insurance coverage through Covered California (“Obamacare”)? If you do, you may have taken advantage of the premium tax credit that helps cover your payments. The credit can be used when your tax return is filed or it can be used to lower your monthly health care payments.

If you chose the advance credit and had a change in circumstances, such as a promotion or a new job that has raised your income, you may no longer be eligible for some or all of that credit and may be subject to a penalty.

To avoid these consequences, it’s important to report those changes to the Covered California when they occur. Otherwise, come your tax filing you might owe instead of getting a refund!