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Missing and Incorrect Information – Many times, people simply do not fill out all of the information required on the form. Whether they miss a section or they don’t think it is important, they are turning in applications that are missing some important info. When you fill out the application, it is important to look at all of the required sections and to provide accurate information. The accuracy of the information entered has been a problem as well. You should always make sure to double-check all of the information on the application including names, birthdays, and Social Security Numbers.
Make sure everyone included on the application is in the right section as well. In some instances, officials have found spouse’s names in the section for dependents. In addition, be sure to include everyone on the application that you want to have covered under a plan. Remember that the changes to the law with Obamacare now allow children who are up to 26 years old to remain on their parent’s coverage.
Incorrect Income – Another issue that the officials have seen is incorrect reporting of income. When you fill out the application, you need to give an accurate (as accurate as possible) account of your income. The amount that you make will determine how much money you may be eligible to receive in tax subsidies. If you report that you make more income than you actually do, it will mean you are not able to get as much in subsidies. However, if you try to take the opposite approach and under report your income as a way to get more in subsidies, you can be sure the IRS will find out.
Not Remembering the Open Enrollment Period for Obamacare – Finally, you have to be aware of the open enrollment period. For 2016, the open enrollment was from November 1, 2015 to January 31, 2016. This means it is now closed. You will not be able to enroll for coverage until November of 2016 unless you qualify for special enrollment due to a qualifying event. Always make sure you are within the bounds of the open enrollment when choosing your plan and enrolling. You want to take your time, but you do not want to miss the enrollment or else you will be forced to pay more fines.
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