Because it's based on your family size and income, your Advanced Premium Tax Credit changes as your life changes during a year. Events that affect the amount include:
- Increases or decreases in your household income
- Birth or adoption of a child
- Becoming eligible or ineligible for health insurance through an employer or government program
Did you choose to have some or all of your credit applied in advance to your monthly premium? You should notify the Health Insurance Marketplace about any of these changes. They'll update the information first used to determine your premium tax credit. Then they'll adjust your advance payment amount.
This will be important when do your federal tax return. Learn more by reading "What happens when it's time to file my taxes?"