You must project your income to be above 138% of the poverty level if your state expanded Medicaid. If your state did not expand Medicaid, you obviously won't be enrolled in Medicaid, regardless of your income.
A few tips that will help you understand your options:
- Only 30 states as of July 2015 have agreed to expand Medicaid. In the other 20 states Medicaid may be available only in select situations.
- CHIP generally has higher eligibility limits, so children and parents can sometimes get free or low cost coverage in states that didn't expand Medicaid.
- Tax credits are offered based on your projected household income as compared to the Federal Poverty Level. If your income ends up being lower at the end of the year, you won't have to pay back tax credits.
- If you take tax credits you'll have to file taxes for the year you take them. You'll need to file form 8962 to adjust your premium tax credits. If you make more than expected you may owe back tax credits.
- You can take deductions that lower your household income and help you qualify for more cost assistance, just make sure you don't go below the 100% line.
- We suggest getting a silver plan if your income is below 250% of the poverty level. These plans will qualify for cost sharing reduction subsidies to lower out-of-pocket costs.
- Household income is the head of households MAGI, spouses MAGI, and tax dependents AGI. Learn more about MAGI here.
List of the income levels for an individual filing single taxes (no dependents) in the 48 Contiguous States and the District of Columbia:
|Estimated 2018 household income:||Savings programs you may qualify for:|
Free or low-cost coverage through Medicaid based on income alone. Next steps.
|$16,643 - $30,150||
A Marketplace health plan with lower monthly premiums plus savings on out-of-pocket costs, like deductibles and copayments. Next steps.
|$30,151 - $48,240||
A Marketplace health plan with lower monthly premiums. Next steps.
You won't qualify for savings on a Marketplace insurance plan. You can buy insurance through the Marketplace at full price, or buy from other sources.
|Persons in family/household:||Income Level needed to avoid Medicaid (if state participates in Medicaid) :|