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Showing posts with the label Income Tax

Reporting Income for Apple Health and Qualified Health Plans on the Washington Healthplanfinder

OK thanks to the American Rescue Plan Act of 2021 (ARPA) and last year's Coronavirus Aid, Relief and Economic Security Act of 2020 (CARES Act), we have a lot of income that may or may not impact your healthcare. If you have a good tax preparer do not hesitate to talk with them if you have questions. As this is only some of the simple guidelines. Here is the FAQ from the Healthplanfinder about the American Rescue Plan. It is a big deal and we have talked several times about the impact that is having on healthcare for good. Here we talked about it on our Podcast: Suzilla .  Tax guideline chart On the Washington Healthplanfinder , there are two types of plans. 1. The Qualified Health Plans which can use Advanced Premium Tax Credits (APTC) to lower monthly costs. If the Income level is under 250% of poverty level then a household can also receive Cost Sharing Reduction (CSR) which lowers things like deductibles, out of pocket maximums and co-pays to increase household savings. ...

Filing a 1095 form when you have Health Insurance in Washington state.

Here are Wenatchee Enrollment Center ,  we have been helping people get their 1095 Forms since the second year so that they can file their taxes. We are one of the full service enrollment centers for the Washington State Healthplanfinder . We print out forms and assist customers attached to us for no cost. We have done it so long that we created a help form. If you go to: https://teammccolm.wufoo.com/forms/qi53yg1en5p81/ then we can quickly generate and email a form for you so that you can file your taxes. Always file your taxes .  If someone tells you that you made too little to file your taxes then they are incorrect and go someplace else to file them. Filing your Federal tax credits is for every that receives a tax credit to reduce the cost of health insurance. If you do not file, then you jeopardize your ability to reduce the cost of healthcare and may have to pay full price.  1095-A form is eligible for everyone with a Qualified Health Plan. In our area t...