Due to a health issue, I most likely will not work at all in 2022. I currently live in a state that does not have expanded Medicaid and therefore I am not eligible. I do have some passive income but it is not enough to meet the minimum threshold for ACA subsidies. Thus, I was thinking of taking money out of my traditional IRA in order to bring my income above the minimum threshold to get the subsidies. I have also considered moving money from a traditional IRA to a Roth IRA. However, I’m not exactly sure these would work and I would hate to be hit with a huge repayment bill in the future. I’d love to hear some thoughts as to whether or not these would work. Thanks!
submitted by /u/OnALateNight
[link] [comments]Due to a health issue, I most likely will not work at all in 2022. I currently live in a state that does not have expanded Medicaid and therefore I am not eligible. I do have some passive income but it is not enough to meet the minimum threshold for ACA subsidies. Thus, I was thinking of taking money out of my traditional IRA in order to bring my income above the minimum threshold to get the subsidies. I have also considered moving money from a traditional IRA to a Roth IRA. However, I’m not exactly sure these would work and I would hate to be hit with a huge repayment bill in the future. I’d love to hear some thoughts as to whether or not these would work. Thanks! submitted by /u/OnALateNight [link] [comments]Read Morer/HealthInsurance