You also need to have a pretty good idea of how much money you're going to make in the upcoming year because subsidies in the Affordable Care Act are always based on projected income for the year and it's household income.
So let me give you a quick checklist of some of the things you might be ready for this year as you navigate open enrollment for the Affordable Care Act going into 2026. First of all, you need to have an idea of who's on your tax return. Why? Because the people on your tax return are actually how Uncle Sam deems your household.
So it's not people that live underneath your roof. It's people that'll actually be on your tax return for 2026. You also need to have a pretty good idea of how much money you're going to make in the upcoming year because subsidies in the Affordable Care Act are always based on projected income for the year and it's household income. So knowing how much money you and your spouse are going to make together, help you navigate the system properly.
In addition to that, you need to know how much it costs for you to have an employer sponsored health plan, both the employee only option, as well as the employee family option. Because depending on those costs will determine whether or not there's any federal subsidies available for you in the Affordable Care Act. And if you improperly take subsidies recognized at the end of the year, you may have to give all that money back. So knowing those numbers is incredibly important.
And of course, you have to know your personal information, whether it's social security numbers, your address, place of employment, the phone number for the place, for the place that you work. All of these are important for you to have as you look at planning your 2026. And lastly, if you are a legal resident, not necessarily a citizen, but you're a legal resident, you'll also need to have all of your documentation that has your tax ID number, as well as the information from that documentation to verify your eligibility. So make sure you come prepared this year for 2026.
You don't try to wing it. Having all of that information upfront will streamline your enrollment process for this year.
You need to have an idea of who's on your tax return because the people on your tax return are how Uncle Sam deems your household. It's not just people that live underneath your roof, but those who will actually be on your tax return for 2026.
Knowing how much money you and your spouse are going to make together is crucial because subsidies in the Affordable Care Act are based on projected income for the year and it's household income.
You need to know how much it costs for you to have an employer-sponsored health plan, both the employee only option and the employee family option. These costs will determine whether or not there are any federal subsidies available for you in the Affordable Care Act.
You should have your personal information ready, including social security numbers, your address, place of employment, and the phone number for your workplace. All of this information is important for planning your 2026 enrollment.
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