2018 tax filing season has started from 29th January, 2019 and everyone must put the details and information of their 2018 health coverage who had Marketplace health insurance.
Though new year has begun and it is February, the 2nd month as per normal calendar but as per financial calendar the year will begin to count from April, as March is known as year ending month in every office and government sectors. Tax filing is an important matter for every resident who is using properties and belongings of Government; this tax will help to grow the country and state, besides that also fulfills needs of people. So 2018 tax filing season also started from January 29, 2019 and it is a big responsibility of the insured people to put detailed information about their 2018 health coverage while filing.
Here are some important steps described that must be followed by people who had health insurance plans under 2018
Marketplace health insurance:
Know more about Form 1095-A: Anyone who has a Marketplace plan in 2018, will get a mail from his/her chosen health insurance company of Form 1095-A, Health Insurance Marketplace Statement by the end of February. Or anyone can download it from their chosen health insurance company’s website. This form can be used in reconciling the premium tax credit.
Check if the Form 1095-A is correct or not: If there is anything wrong found in the coverage or household, insured person can contact the Marketplace Call Center. Also insured have to confirm that the given information about the “second lowest cost Silver Plan” (SCLSP) is right; and last but not the least please don’t file taxes until the form 1095-A is correct.
Get help, ask more, follow step-by-step instructions and tax forms: At first look carefully and then choose the situation that can be applied best as per the insured to learn about health coverage and 2018 federal taxes. Insured can also look for free volunteer tax help from the IRS.
2018 Open Enrollment for Marketplace Health Insurance started on last year and ended on December, people who got them registered under this Open Enrollment got extra benefits with the existing health insurance plan. But there were many people who missed the opportunity; the waiting period is now over as the 2019 Open Enrollment is going to start from 1st November and the application process has become smothering than before.
Here is 3 ways to become prepare for 2019 Open Enrollment:
Before applying for the new enrollment or renewing the previous coverage this time, people will be asked to submit household details, income details or certificates and recent or ongoing coverage information. So applicants should gather all these documents before visiting the site as it will save both their time and pressure by reviewing the Marketplace Checklist in advance to get the documents.
Who have 2018 Marketplace coverage, need to review their current application to make sure it is still right; but if it is not update, then applicants have to update the application by adding any income or household changes. This update is required as applicants won’t get the right amount of premium tax credit or other savings. People who have updated coverage can access to the pre-filled 2019 application from 1st November as per the given data.
Open Enrollment 2019 will lasts till 15th December where the existed enroller will get an automatic enrollment in the same plan or similar one. But it is always best to enroll to the 2019 Open Enrollment with documents.