Can You Keep Obamacare if You Get a New Job?

If you recently lost your job and have applied for Obamacare, you may wonder if you can keep Obamacare if you get a new job. Also, what happens to your Obamacare if you get a new job? The answer to these questions depends on several factors, including your income.

What is Obamacare?

The Affordable Care Act (ACA), also known as Obamacare, is a health insurance reform law enacted in 2010. The ACA was designed to make health insurance more accessible and affordable for Americans. Before the ACA, many people were uninsured.

The ACA includes several provisions to help make health insurance more affordable, including:

Premium tax credits: These credits help reduce the cost of health insurance premiums for low- and moderate-income individuals and families.
Cost-sharing reductions: These reductions help lower the out-of-pocket costs of health insurance for low-income individuals and families.

Can I Keep Obamacare if I Get a New Job?

Yes, you can keep Obamacare if you get a new job. However, you need to report your new income to the Health Insurance Marketplace. Your income will determine whether you are eligible for premium tax credits and cost-sharing reductions.

If your new income is higher than the income you reported on your Obamacare application, you may be eligible for lower premium tax credits or cost-sharing reductions. You may also be ineligible for premium tax credits or cost-sharing reductions altogether.

If you are concerned about the cost of health insurance, you can shop for plans on the Health Insurance Marketplace. You can compare plans and prices from different insurance companies. You can also get help from a licensed insurance agent.

Do I Have to Report My New Job/Salary to the Health Insurance Marketplace?

Yes, you must report your new job and salary to the Health Insurance Marketplace. You can do this by logging into your HealthCare.gov account or by calling the Marketplace Call Center.

If you do not report your new job and salary, you may have to pay back the premium tax credits and cost-sharing reductions you received. You may also be ineligible for premium tax credits and cost-sharing reductions in the future.