Nov 5, 2014
Covered California is sending notices to health plan enrollees asking permission to automatically verify their income for the coverage year 2015.
Why does Covered California need to know my household income?
Having enrollees’ permission to verify their household income will allow Covered California to calculate their Advanced Premium Tax Credit (APTC) for 2015.
APTC is calculated to assess eligibility for premium assistance. If eligible, enrollees may receive financial assistance to reduce the cost of their monthly premium. The amount of premium assistance an individual may receive is determined based on his or her income as a percentage of the federal poverty level.
How can I give my consent?
Consent for automatic income verification can be given via telephone to their Certified Insurance Agents. Additionally, Certified Enrollment Counselors and Covered California service center representatives can be of assistance.
What happens if I do not consent?
Consumers who have not provided consent are at risk of losing their APTC in 2015. Providing consent to verify income is not required but it is needed to calculate APTC.
Partner Agency can provide you with professional expertise in understanding your health care options, guidance in application and eligibility process, plus offer you affordable health care coverage through Covered California or directly with medical insurance carriers for Individuals and Families or Employer Group coverage for groups of any size.
Please feel free to contact us for a no-obligation quote from various companies for almost any kind of insurance at (714) 482-9500. We cannot help you unless you call.