The Importance of Covered California Income Updates
September 2, 2016
Most Covered California Enrollment is done during the Open Enrollment Period - November to January.
When you enroll, you give Covered California an estimate of your net income you are going to be bringing in and showing on that year's taxes.
Life has a habit of being unpredictable; most people have income changes throughout the year they did not see coming when they gave Covered California their estimated net income.
That is why we encourage our clients to check in with us around August or September to go over that estimate. It is extremely important to get that number as close to accurate as possible. If you have given a lower number than you actually bring in, even accidentally, Covered California could come after you for the subsidies you received.
I'm busy working on my blog posts. Watch this space!