Hey there folks. I voluntarily left work in late May of this year. The plan from my employer was very expensive (~$910/month), so I elected to use the grace period to enroll if something bad happened, and otherwise to buy a plan on the market at the end of the window. Since that grace window is nearly closed, I spent time yesterday enrolling in health insurance in my local California market, applying through Medi-Cal to see what benefits I was eligible for.
My financial situation:
$0 projected income for the remainder of the year from work Unclear income from capital gains; I’m planning on selling assets to sustain myself
Side question: are these offset by carryover capital losses from a previous tax year, as they are on taxes? Or does MAGI not have any such carryover?
As little as $100 or possibly as much as ~$1,800 dividends from assets, varying month-by-month
My questions are:
I will certainly be over the $1,482/month ($17,775/12 months) income threshold for one out of the remaining five months this year, and only maybe over it for others. Is it advisable to continue with my application for Medi-Cal? Will this be a headache re-adjudicate every month? How do I even go about keeping the powers-that-be up-to-date? I naively assumed that I would be able to buy coverage and be good-to-go immediately. I’m worried about heading into a period of not being covered by insurance. It sounds like Medi-Cal will take some 45 days to rule on my case eligibility, and in case they decide to bounce me, or even if I have to go to a hospital tomorrow, I have no clue how to handle that. Does it make sense to bail somehow and waive Medi-Cal coverage, and just buy something through Covered California? Is that even possible?
Thank you so much for any help you can provide.
submitted by /u/BackComfortable7201
[link] [comments]
Hey there folks. I voluntarily left work in late May of this year. The plan from my employer was very expensive (~$910/month), so I elected to use the grace period to enroll if something bad happened, and otherwise to buy a plan on the market at the end of the window. Since that grace window is nearly closed, I spent time yesterday enrolling in health insurance in my local California market, applying through Medi-Cal to see what benefits I was eligible for. My financial situation:
$0 projected income for the remainder of the year from work Unclear income from capital gains; I’m planning on selling assets to sustain myself
Side question: are these offset by carryover capital losses from a previous tax year, as they are on taxes? Or does MAGI not have any such carryover?
As little as $100 or possibly as much as ~$1,800 dividends from assets, varying month-by-month
My questions are:
I will certainly be over the $1,482/month ($17,775/12 months) income threshold for one out of the remaining five months this year, and only maybe over it for others. Is it advisable to continue with my application for Medi-Cal? Will this be a headache re-adjudicate every month? How do I even go about keeping the powers-that-be up-to-date? I naively assumed that I would be able to buy coverage and be good-to-go immediately. I’m worried about heading into a period of not being covered by insurance. It sounds like Medi-Cal will take some 45 days to rule on my case eligibility, and in case they decide to bounce me, or even if I have to go to a hospital tomorrow, I have no clue how to handle that. Does it make sense to bail somehow and waive Medi-Cal coverage, and just buy something through Covered California? Is that even possible?
Thank you so much for any help you can provide.
submitted by /u/BackComfortable7201 [link] [comments]Read Morer/HealthInsurance