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Video instructions and help with filling out and completing When Form 1094 B Downloads

Instructions and Help about When Form 1094 B Downloads

Okay followers it's one to hold here with another installment of the most important things to know about health care reform as you can tell from my different hair it's been a while since my last video today I want to talk about the form 1095-a I've been getting a lot of calls from my clients wanting to know how they can get their form 1095 so they can father income taxes for 2022 first let's talk about what the form 1095 is you know how you get a w-2 or a form 1099 from your employer to show the income they have paid you for the previous year and then you use that form to report your income on your tax return the form 1095 is the same thing in this case the federal government has given you advanced tax credits a portion of which is sent to your health insurance company to offset your monthly premium you use the form 1095 to report those tax credits on your tax return remember your tax credits were based on your estimated income for the upcoming year in this case 2022 now when you file your 2022 income taxes you're reconciling the estimated income with your actual income remember when you did your 2022 tax credit application many many months ago that you agreed that this would happen and that your tax credits will either go up or down based on what your actual income turns out to be now it's important to reconcile those tax credits because the federal government can refuse to give you tax credits in the future if you don't okay so that's what the form 1095 is now how do you get it well according to healthcare.gov you're supposed to receive those forms by mid-february it would have come in an envelope marked health insurance marketplace if you have not received your form it could be that your address is wrong with the federal marketplace remember we're talking about 2022 taxes so your tax credit application would have been done in either late 2022 or early 2022 have you moved since then did your did you correct your address with the marketplace either it's your online account or by phone if not that could be the problem all right now for discussion let's say that you have not received your form and you want to access your online account to print it out now obviously if you're watching this video online you have access to a computer or at least a smartphone if you created an online account at healthcare.gov and you remember your username and password which is a huge issue then log in and look at the menu on the left hand side for tax forms then you can print it out fairly easy but let's say that you don't have an online account for instance as an agent my clients and I completed their tax credit applications using my login through an insurance company's website so my clients don't have their own online account in order for them to print out their form 1095-a they will have to create an online account and search for their 2022 tax credit application unfortunately to do that search you have to have the ID number from the application now you would think that the government could find it based on your social but no such luck okay so here's how you find the number when you prepared a tax credit application either on your own or with an agent like me or on the phone with the marketplace you would have received this document either by email or in your mailbox it has the health insurance marketplace logo and it's between fifteen and twenty pages long you wouldn't have forgotten that you got this document the document that you're looking for now will be dated either late 2022 or early 2022 remember you're doing your 2022 Texas the magic application ID number is below your name and is 10 digits long this is the number you put into the search box to pull your 2022 application into your newly created online account tada okay now if all that doesn't work you're gonna have to call the marketplace I know I'm sorry but if you're locked out of your online account you're going to have to call if your address has changed and you can't change it online you're gonna have to call if you can't find your application number from 2022 you're gonna have to call the number is eight hundred three one eight two five nine six number again 800 three one eight to 596 you can also find that number on my facebook page at colt health insurance that's all for now good luck with those 2022 tax returns.

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