If you’re one of the millions of Americans who qualified for a premium tax credit, you must keep reading! Have you received a letter from healthcare.gov requesting additional information to verify your premium tax credit eligibility? If you haven’t responded, you only have a few weeks left. The deadline has officially been set. You have until September 5, 2014 to submit your documentation, or your health coverage will end on September 30, 2014 – now it’s time to get serious!
The government originally had approximately 2.9 million discrepancies regarding tax credits – mostly citizenship and income discrepancies. About half of these have been resolved, but many are still pending documentation from policyholders. If you have received a letter from healthcare.gov requesting additional information, it is imperative that you submit your documentation as soon as possible.
How Do I Supply My Documentation to health.gov?
You have several options to submit your documentation:
- Sign in to your healthcare.gov account and upload your documentation
- Mail in your documentation to:
Health Insurance Marketplace
Department of Health & Human Services
465 Industrial Blvd.
London, KY 40750
(Include the page with the barcode that you received from healthcare.gov)
- If you have any questions or you’re not sure what to send, you can reach healthcare.gov by calling 1-800-318-2596.
For further information regarding what documents can be accepted and information regarding self-employment income, read our HSA for America newsletter article, What to do if Your Health Insurance Tax Credit Gets Audited.
What Happens if I Don’t Submit My Documentation?
Healthcare.gov has made it very clear – those who fail to submit the requested documentation will have their plan cancelled and will no longer have coverage after September 30, 2014. If you have mailed in your documentation, you can call healthcare.gov at 1-800-318-2596 to ensure your information has been received.
If healthcare.gov is unable to verify eligibility for your premium tax credit and your policy is cancelled, remember – you will be on the hook at tax time to repay any advanced premium tax credit you received during 2014 – and you certainly don’t want to owe the IRS!
Do you have any questions about your request for information or the documents you need to provide? How can HSA for America help you through this process?