Health care reform
As HHS prepares for the October 1 opening of the Health Insurance Marketplaces, it has released information about how the government will verify applicants’ income to determine the subsidies for which they may qualify.
Three types of financial assistance are available to individuals applying for insurance on the marketplaces.
On August 5, CMS released guidance and clarification1 about how the government will confirm consumers’ reported household income when determining their eligibility for marketplace subsidies:
Individuals should be prepared to substantiate their household income for purposes of obtaining subsidies.
Employers will need to understand how the marketplaces work and will need to communicate information about the marketplaces to their employees by October 1, 2013.