Your 1095-A is in the mail!
If you had a health insurance plan through the marketplace, keep a close watch on your mail box for form 1095-A. You'll need this form when you prepare your 2021 taxes.
Marketplace plans (also known as affordable care act (ACA) or Obamacare plans) are affordable because your family will receive tax credits to help pay for the monthly premiums. The amount of tax credits you receive depends on your household size and income.
Every year the marketplace, not the IRS, mails out the 1095-A form to everyone who received tax credits.
The form contains:
Your name and names of your household on your health insurance plan
The full price amount of coverage you have
Any tax credits you were eligible for
What percentage of tax credits you used
The actual amount of premium payments you paid throughout the year
A figure called “second lowest cost Silver plan” (SLCSP)
You'll use this form to "reconcile" your tax
credits when you file your 2021 taxes. Make sure this form is accurate. If anything about the plan or household is incorrect, please contact your agent right away.
If you file your taxes with a CPA or tax accountant, give the 1095-A form to them, they'll know exactly how to enter the information for you.
If you file your taxes online (with TurboTax, etc.), It will walk you through which numbers you need to enter from the form.
If you do not receive your 1095-A by mid-February, contact your agent.
The marketplace has already started mailing out forms. If you do not receive your form by mid-February, please call/text us at 801-609-8699 and we can help you get a copy of this form.
Let us know if you have any questions. We're here to help!
Call or text your local agent at 801-609-8699, or schedule an appointment through the link below.
About Utah Avenue Insurance
Utah Avenue Insurance is your local health insurance experts. Our agents are here to help you with all your health insurance questions. Utah Avenue can help you with marketplace (aka Obamacare) plans, private health insurance and Medicare. If you have questions about how your medical insurance plans work or need help enrolling in a plan, we can help you. As always, our service is free to you.
Give Utah Avenue a call or make an appointment with Utah Avenue Insurance and we'll be happy to help!