Question: After enrolling in Brnoze plan on 3/14/2014, my income dropped down much in 8/14/2014. 1)What proof of income like Bank statement for that month to be submitted? 2)Only silver plan is to be selected for cost sharing? 3)Suppose after 90 days if proof of income could not be shown what happens.? Will the new revised plan be cancelled or will it continue but without subsidy?
Answer: Your change of income can be verified in a number of different ways depending on whether you are an W2 employee or self employed. Covered California can help you with that if you call 800-300-1506. Yes, only the silver plans qualify for cost-sharing reductions. If proof of income to support the change is not supplied within 90 days, the new plan will continue without subsidy and cost-sharing reductions.