Health insurance is an important safety net that protects you and loved ones from the unexpected. Medical costs can rack up quickly even when you’re perfectly healthy, so it’s in your best interest to take advantage of open enrollment for health insurance. With the right plan, you’ll pay less for covered in-network health care and can enjoy benefits including free/reduced preventative care like vaccines, screenings, and check-ups.
If you’re looking for new or updated health insurance in Reno, you will need to apply during what is called Open Enrollment. Open Enrollment is the yearly period when people can enroll in a health insurance plan. Nevada’s enrollment period dates are as follows:
For coverage beginning January 1, 2023 individuals must enroll by December 31, 2022. Outside the Open Enrollment Period, you typically can only enroll in a health insurance plan if you qualify for a Special Enrollment Period.
The first step of the enrollment process is to provide basic information about your income and household dynamics via the Nevada Health Link pre-screener tool. With this tool, you’ll be able to shop first and sign up later. Health insurance plans can differ significantly in cost and benefits. Consider scheduling an appointment with Nevada Silver, a Nevada Health Link preferred broker, to guide you through the shopping process.
When deciding on a plan, consider your overall needs. Are you healthy and don’t anticipate costly medical services throughout the year? Or do you or your family plan to have any procedures done due to medical issues?
It’s helpful to write down the medical services you or your family routinely use. Read the Summary of Benefits and Coverage within each plan to ensure these services are covered. Preventive services like annual check-ups or vaccine shots are usually free when performed by an in-network healthcare provider.
If you like to visit specific doctors, hospitals, or pharmacies, make sure they are in-network for plans you are considering. Most plans will not pay any health costs if you go out-of-network. And in the event that you do pay, those costs do not count towards your deductible or out-of-pocket maximum. Networks change from plan to plan. If a doctor is covered by one insurance plan, do NOT assume that they are covered by ALL plans under that insurance company. Though it can be daunting to narrow down the selection and sign up for a plan, Nevada Silver has the industry experience to help you navigate the process.
You’ll be hard-pressed to find other health insurance brokers in Reno NV with Nevada Silver’s level of hands-on guidance and expertise with trusted insurance providers. Our team’s goal is to make sure our clients have the necessary information to enroll in a plan that suits their specific health needs. If you have any questions about the upcoming Open Enrollment Period in Nevada, reach out to Nevada Silver for assistance.
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.
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 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 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 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.
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.
