How do I report a change in income to Covered California mid-year, and what is the procedure for adjusting my premium assistance?

You must report a significant change in your income to Covered California within 30 days of the change. The procedure involves updating your application online or by phone, which will automatically adjust your premium assistance for future months. Here is how to report the change and adjust your assistance: Step 1: Gather Proof of Income Collect documents that verify your new household income. This can include recent pay stubs, a letter from your employer detailing your new salary, or a profit and loss statement if you are self-employed. Have your Social Security number and Covered California case number ready. Step 2: Report the Change Online The most efficient method is to visit the Covered California website (www.coveredca.com) and log in to your account. On your dashboard, select the option to "Report a Change." The system will prompt you to enter your new income information. Step 3: Report by Phone or with Assistance If you prefer not to use the website, you can call the Covered California Service Center at (800) 300-1506. You can also seek free, in-person help from a local Certified Insurance Agent or Enrollment Counselor, who can guide you through the process. Step 4: Review Your New Eligibility After you submit the change, the system will recalculate your eligibility for premium assistance (the Advanced Premium Tax Credit). It will show you a new monthly premium amount. Carefully review this new amount before confirming the update. Important considerations: You must report income changes within 30 days. If your income increases, your premium assistance will likely decrease, and your monthly payment will rise. If your income decreases, you may qualify for more assistance or even become eligible for Medi-Cal. Changes are typically effective on the first day of the month after you report them. Note: Failing to report an income increase in a timely manner can result in a significant financial penalty. You may be required to repay any excess premium tax credits you received when you file your federal income tax return at the end of the year. This is general information and does not constitute legal advice. For complex situations, such as fluctuating self-employment income, consult with a qualified California attorney or a certified tax advisor.