Keeping your information up-to-date is critical for many things and health insurance is no exception. As the renewal season for your health insurance starts October 1st 2021, it is important to make sure that your insurance carrier has the most up-to-date address, contact information, household composition, and, if you applied through Covered California ( Covered CA) the most up-to-date income. Please contact us at email@example.com so that we can help you with that process.
For Covered California, it is critical that your household tax size, address, and reported income are all up-to-date. Your premiums are calculated based on your age and zip code while premium tax credits (federal & state) are calculated based on your household tax filing size and modified adjusted gross income. Without this information up-to-date, your premiums and premium tax credits may be inaccurate and you might have to pay at tax time. Furthermore, if you are enrolled in a health insurance policy sold through Covered CA, you must update your information with Covered CA, not your health insurer, as Covered CA is the 3rd party that sends all of your information and necessary data updates to your insurer.
In 2022, the American Rescue Plan is still in effect, providing substantial premium assistance for many Americans; however, the additional subsidies provided to those who received unemployment in 2021 will expire. If you reported unemployment on your Covered CA application, please make sure that the start/end date of unemployment is correct and try to best estimate your 2022 modified adjusted gross income (adjusted gross income for most people). Many Americans had major changes to their income through the COVID-19 pandemic but it is now time to look towards the new year and estimate your 2022 income. Furthermore, in 2021 the first 4 months had higher premiums and with the introduction of the American Rescue Plan Covered California pro-rated the over-payment towards the last 8 months, so you will experience a premium increase in 2022.
Lastly, tax documents such as the federal 1095-A & state 3895 as well as new health insurance ID cards will be mailed to your address on file as well. If it is not up-to-date, your personal health information may be inadvertently sent to your old address and potentially exposed.
We strongly urge you to make sure all of your information is up-to-date so that we can best serve you at your 2022 health insurance renewal. Let us assist you with your health plan changes in 2022 and help you to update the system.
Let us help you to navigate the American Rescue Plan for 2022. At Solid Health Insurance Services our mission is to find you affordable health, dental, vision insurance through Covered California or directly with each insurance carrier.