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The end of the tax season is quickly approaching, have you filed yet? If not, there’s no need to worry, you still have some time. The hardest part of filing your tax returns is often locating and tracking down all of the documentation and paperwork you need to reference. In regards to the health insurance portion of your taxes, there are three key forms you’ll need to have handy. But that may not be all. To properly file your 2021 taxes, learn more about the necessary Nevada health insurance documents you’ll need with the Reno health insurance experts at NV Silver. 

Required Nevada Health Tax Documents 

It’s obvious that you’ll need to have your W-2 on hand to file your taxes, but do you know what health insurance documents you need? If you had health insurance coverage in 2021 then you were likely sent a 1095 form that outlines the details of your insurance premiums. These, along with documents such as your insurance cards, statements from your insurer, and records of advance payments from premium tax credits (APTC) may all be helpful in accurately filing your taxes.

The necessary Nevada health tax documents required to file your tax return include the following:

Form 1095-A, Health Insurance Marketplace Statement 

Form 1095-A is provided to individuals who enroll in a qualified health plan through the Health Insurance Marketplace. This form comes from the marketplace, either through the federal marketplace or a state-run health care exchange, not the IRS. This form essentially acknowledges that you and possibly others in your household were enrolled in a health coverage plan for the year. Some specific information provided in this form include:

Form 1095-B, Health Coverage  

Form 1095-B is sent to individuals covered under a medical health coverage plan by their health insurance provider, such as an insurance company. The document includes information about who was covered under the policy and when they were covered. This form is sent to individuals who have bought health insurance coverage from a provider outside of the marketplace or employer-provided network. A few examples of such an insurance policy are government programs like Medicare and the Children’s Health Insurance Program (CHIP).  

Form 1095-C, Employer Provided Health Insurance Offer and Coverage 

Form 1095-C is sent by companies to their employees. This form proves that the employee, and possibly members of their family, were enrolled in an employer-provided health insurance plan. Typically, it is up to the employee whether or not they participate in their work’s health coverage offer, and while most employees choose to go this route, some seek coverage elsewhere. It’s up to the employer to report to the IRS which employees have chosen to participate in their health plans. 

Like Form 1095-A, Form 1095-C includes information about who was covered by the policy and when. 

Understand Nevada Health Tax Documents With Our Reno Health Insurance Experts

If you’re still a bit confused about your Nevada health tax documents, that’s okay. Our Reno health insurance agents are here to answer all of your questions in regards to your health tax documents. Just give our office a call at 775.829.1221, or connect with us online! Whether you need assistance with a health insurance plan for seniors, want to discuss life insurance options, or have a question about your taxes, we’re here to help.

Ensuring you or your loved ones are covered for long term care should be top of mind for anyone nearing their senior years. This November is National Long Term Care Month, a movement that was started to emphasize the importance of long-term care and how important it is for people to get involved in preparing for their future. As we age we begin to realize the need for having adequate health coverage, but often lack the information necessary to obtain it. Fortunately, working with Nevada Silver Life Insurance, the state’s only Nevada health link preferred broker, makes obtaining long-term care insurance a breeze. 

 

Learn more about Long Term Care Month and your insurance coverage options with Nevada Silver Life and Health Insurance by reading below. 

 

Long Term Care and Insurance

 

Long-term care is often necessary for seniors who are unable to handle daily tasks such as eating, bathing, or dressing on their own. These needs commonly go unmet due to a lack of proper long-term care coverage and accessibility, resulting in family members taking on the role of caregiver for their loved ones. However, this isn’t always possible as many adults have other responsibilities such as work that impede this possibility. 

 

On average, 78% of adults receiving long-term care rely solely on their family or friends for assistance. The caregiver typically spends 21 hours a week caring for their loved one and roughly 90% of these people had to permanently alter their work schedules to provide such care. 

 

Long-term care insurance ensures that those who require long-term care get the assistance they need while allowing their family members to continue their daily routines.  

 

Medicare Open Enrollment 

 

Medicare is ideal for individuals who are turning 65 or are over the age of 65 and are looking for health insurance that will help them maintain their current health and protect them from circumstances that are unplanned. Medicare open enrollment for seniors consists of two main parts; Part A and Part B. Seniors who take advantage of Medicare health insurance must enroll in both Parts A and B to be considered covered.  

Medicare Supplements, also called Medigap Plans, are designed to help pay for certain health care costs that are not covered by Medicare Parts A or B. Likewise, Medicare Advantage Plans offer people with Medicare additional benefits beyond the standard Medicare coverage through an approved HMO. 

 

Medicare Open Enrollment began on October 15th and will remain open until December 7th. If you need help enrolling in Medicare benefits, the expert insurance agents at Nevada Silver are there for you. There’s still time to get your Medicare benefits this year. If you are in need of assistance enrolling or reviewing your current plan contact us today! 

 

Nevada Health Link Open Enrollment 

 

Nevada Health Link is a resource available to all Nevadans that helps them find affordable health insurance plans that meet their unique needs and budget. Nevada Silver Life and Health Insurance Agency has many options for your family’s individual health insurance. 

 

You can purchase plans privately or through the Nevada State Exchange Marketplace, Nevada Health Link, which makes the process of signing up for health coverage simple. There are other benefits to purchasing health insurance through Nevada Health Link such as receiving premium tax credits and subsidies to cover the cost of your health insurance.

 

Nevada Health Link’s Open Enrollment will begin on November 1st and runs through January 15th. To ensure you receive health coverage by February 1, 2022, connect with Nevada Silver. As the only Nevada Healthlink Preferred Broker in Northern Nevada, we’re able to provide the most streamlined assistance possible.

 

Are you interested in working with certified health insurance brokers? Our agents at NV Silver Life and Health Insurance are here to help you find the best plan for you. Contact us today!

John collier, LUTCF, FSS, CC
Fax: (775) 826-2516
NV License #2545207
Gina Espinal-aguerre
Fax: (775) 826-2516
NV License #17287151
Mary Lou Urrutia
Fax: (775) 826-2516
NV License #3590623
David Moncuse
Fax: (775) 826-2516
NV License #3589736
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