I have applied for 2016 due to an expected/planned income change.
I entered my expected income for next year, and I have until January 30th to send in documentation of my lower income.
Below is what they sent me:
You need to send the Marketplace proof of your yearly income for all members of
your household that will earn income and are required to file a tax return. Send documents that closely
match the income amount from your application. You don’t need to send proof of income that you no
longer receive.
Examples of documents you can send include:
· 1040 tax return (federal or state versions acceptable) - Must contain first and last name,
income amount, and year.
· W2 and/or 1099s (includes 1099 MISC, 1099G, 1099R, 1099SSA, 1099DIV, 1099S, 1099INT) -
Must contain first and last name, income amount, year, and employer name (if applicable).
· Pay stub documentation - Must contain first and last name, income amount, and pay period or
frequency of pay with date of payment. If a pay stub includes overtime, please indicate average
overtime amount per paycheck.
· Self-employment documentation (includes 1040 Schedule C, most recent quarterly or year-to-
date profit and loss statement, self-employment ledger) - Must contain first and last name,
company name, and income amount. If submitting a self-employment ledger, include dates
covered by the ledger, and the net amount from profit/loss.
· Social Security statements (Social Security benefits letter) - Must contain first and last name,
benefit amount, and frequency of pay.
· Unemployment Benefits (Unemployment Benefits Letter) - Must contain first and last name,
source/agency, benefits amount, and duration (start and end date, if applicable).
These documents don’t necessarily need to be dated for 2016. For example, you can provide recent pay stubs if you don’t expect your income to change in 2016. If you expect your income to go up or down in 2016, you can provide other documents, like a document that states when contract work will end. If any of your income comes from freelance work, you can fill out a self-employment ledger that includes your expected income.
If you don't send it by the following date, you may have to pay more for coverage because your tax credit and lower copayments, coinsurance, and deductibles may end: January 30, 2016.