On August 5, 2013, the Centers for Consumer Information & Insurance Oversight (CCIIO) issued a new Question and Answer (Q&A) on whether Marketplaces will verify consumer income as part of the eligibility process for advance payment of premium tax credits and cost-sharing reductions. The Q&A explained that Marketplaces will verify this information via documentation submitted by each applicant for these benefits. Marketplaces will review tax filings and Social Security information to verify household income, as well as current wage information in many cases. The Q&A also clarified that CMS intends everyone applying for premium tax credits or cost-sharing reductions to submit this information in the Federally-facilitated Marketplace. The Question and Answer is available here.
