Hi all, (new account for privacy) We are on Medi-cal, and income is very close to cut off. If we get bumped off, we would move to ACA subsidized plan. For coverage under Medi-cal, children under 18 have a higher income cut off, however adults have a much lower cut off.
1) If we go over the cut off for adults, is it correct that our son over 18, who is a student so still on our plan, would also get bumped off and also need an ACA subsidized plan?
2) Is it correct that contributions to a traditional IRA lower our relevent income (I think called MAGI) , which would help us qualify for Medi-cal? We don’t really have the money for those contributions right now, however if it does help stay on Medi-cal, that money would have been used for premiums for ACA plans anyways (especially if students over 18 would get bumped off as well). Would rather put the money into an IRA and then be able to keep Medi-cal. Thanks for any help or guidance.
submitted by /u/SamSapos
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Hi all, (new account for privacy) We are on Medi-cal, and income is very close to cut off. If we get bumped off, we would move to ACA subsidized plan. For coverage under Medi-cal, children under 18 have a higher income cut off, however adults have a much lower cut off. 1) If we go over the cut off for adults, is it correct that our son over 18, who is a student so still on our plan, would also get bumped off and also need an ACA subsidized plan? 2) Is it correct that contributions to a traditional IRA lower our relevent income (I think called MAGI) , which would help us qualify for Medi-cal? We don’t really have the money for those contributions right now, however if it does help stay on Medi-cal, that money would have been used for premiums for ACA plans anyways (especially if students over 18 would get bumped off as well). Would rather put the money into an IRA and then be able to keep Medi-cal. Thanks for any help or guidance.
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