If you're enrolled in a Marketplace plan and your income or household changes, you should update your application with income and household changes as soon as possible.
These changes — like higher or lower income, adding or losing household members, or getting offers of other health coverage — may affect the coverage or savings you’re eligible for. After you finish applying or enrolling, you may be asked to submit documents to verify your income.
Use this tool from the IRS to see how income and household changes can affect your savings.
Some changes — like starting Medicare coverage or getting a job-based insurance offer — require you to cancel your Marketplace plan. Or you may want to cancel coverage for another reason.