Guide to Reporting Income Changes Online

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Transcription:

Guide t Reprting Incme Changes Online This guide is fr MNsure-certified brkers, navigatrs and certified applicatin cunselrs (CACs) t help cnsumers reprt an incme change using the life event change (LEC) reprting frms. Cnsideratins Please cnsider the fllwing when reprting an incme change nline: An incme change impacting current incme cannt be reprted mre than seven days in advance f the change ccurring. Did the husehld riginally apply using the applicatin fr financial assistance? If they did nt, then they may need t reapply. Is there any incme currently listed n the applicatin? If an incme surce that is n the applicatin has ended, what date did it end n? If an incme surce that is n the applicatin has ended, is there als emplyerspnsred insurance (ESI) n the applicatin that has ended? If s, what date? (Nte: if the incme change includes a gain f ESI, all changes shuld be reprted by phne.) Hw will all f their incme surces frm this year impact their Prjected Annual Incme (PAI)? If a change is reprted t a cnsumer s current incme, then a change shuld typically be reprted t their PAI as well (and vice versa). Prcedure The fllwing are instructins and steps necessary t submit a life event change fr reprting incme changes. Once yur registratin t cmplete LECs has been cmpleted, lg in with the email and passwrd yu created. 01/03/2019 Page 1 f 8

Guide t Reprting Incme Changes Online Enter the cnsumer s first and last name and click cntinue. This shuld be the name f the individual experiencing the change (which may r may nt be the individual reprting the change t the assister). In the next sectin, if the cnsumer experiencing the incme change is the individual reprting the change t the assister, the first questins will be answered with yes and self will be selected. 01/03/2019 Page 2 f 8

Guide t Reprting Incme Changes Online If the cnsumer experiencing the incme change is nt the individual reprting the change t the assister, then the first questin will be answered with n and the relatinship f the persn reprting the change will be selected. The example belw shws the cnsumer s spuse reprting the change t the assister. Cmplete the next sectin t include the cnsumer s residential address infrmatin. 01/03/2019 Page 3 f 8

Guide t Reprting Incme Changes Online Answer yes t the questin Des x have changes t current incme t reprt and click the Add incme buttn. 01/03/2019 Page 4 f 8

Guide t Reprting Incme Changes Online Tips fr Reprting Different Types f Incme Changes The fllwing infrmatin includes examples fr reprting different types f incme changes, which include: Alimny American Indian r Alaskan Native incme Farm incme Interest / dividends Other taxable incme Rental r ryalty incme Retirement / pensin Self-emplyment Scial Security benefits Taxable schlarships, awards and grants Unemplyment Wages befre taxes Tips fr Reprting New Incme The questin, On what date did X stp earning this incme? shuld be left blank since this is new incme. The questin, Is this new incme, shuld be answered Yes. Tips fr Reprting Taxable One-Time Incme The questin, Incme frequency (Required), shuld be answered One-time nly. The questin, Is this new incme, shuld be answered Yes. 01/03/2019 Page 5 f 8

Guide t Reprting Incme Changes Online Tips fr Reprting an Incme Change when the Cnsumer s Emplyer has NOT Changed Fr example, an increase r decrease in wages at the same jb. The Incme frequency (Required) drp-dwn must be answered with the same frequency that is currently n the applicatin. If the frequency n the current applicatin is nt knwn, it will be necessary t cntact MNsure Brker Line r Assister Resurce Center (cnsumer must be present) t verify this infrmatin. The questin, Is this new incme? shuld be answered N. Tips fr Reprting New Wages befre Taxes Incme when the Cnsumer has Changed Emplyers First, it is necessary t end the current incme that is shwing n the applicatin. If the incme n the applicatin frm the previus emplyer is nt knwn, it will be necessary t cntact MNsure Brker Line r Assister Resurce Center (cnsumer must be present) t verify this infrmatin. Be sure t include the date fr when the cnsumer stpped earning this incme. Then Add anther incme type t reprt the new incme. The questin, Is this new incme? shuld be answered Yes. The next part f the change is used fr the entry f incme deductins. Select yes t add r make changes t deductins. Upn selecting yes, select ne f the fllwing frm the drp dwn: Alimny paid 01/03/2019 Page 6 f 8

Guide t Reprting Incme Changes Online Certain business expenses f reservists, perfrming artists and fee basis gvernment fficials Deductible part f self-emplyment tax Dmestic prductin activities deductin Educatr expenses Health savings accunt deductin IRA deductin Mving expenses Penalty n early withdrawal f savings Self-emplyed health insurance deductin Self-emplyed SEP, SIMPLE and qualified plans Student lan interest deductin Tuitin and fees Enter the deductin amunt, frequency and start date f the deductin. Then select Add. The screensht belw shws an example fr adding an alimny paid deductin, with the deductin amunt as $300, a deductin frequency as mnthly and a start date as 1/1/2018. 01/03/2019 Page 7 f 8

Guide t Reprting Incme Changes Online Prjected Annual Incme The final questins n the incme change LEC tl relate t prjected annual incme (PAI). Here yu will add prjected annual incme fr the cnsumer. Submit Yur Change Yu can use the cmment field t prvide clarifying infrmatin. Hwever, all the relevant fields included abve MUST be cmpleted in rder fr MNsure t prcess the LEC. D nt use the cmment field t try t reprt the incme change infrmatin. Once the change has been submitted the assister will receive an email which will cnfirm that the change has been submitted fr prcessing. The email will be sent t the email address the assister used when registering t use the nline LEC frms. 01/03/2019 Page 8 f 8