The purpose of this letter is to provide counties with guidance regarding fluctuating or self-employment income, and the use of projected annual income when transmitting income to the California Healthcare Eligibility, Enrollment and Retention System (CalHEERS) to calculate MAGI. Self-employment or fluctuating income may include income received from self-employment, partnerships, s-corporations, royalties, estates, trusts and real estate rentals.
Covered California MAGI Training
Covered California provided some very important training to insurance agents on determining ACA MAGI for clients…twelve months late. The information offered on household income for tax credits should have been offered months ago before we started the first open enrollment. While the maxim of “better late than never” is apropos, content was at times needlessly […]
What counts as income for MAGI?
A key service agents provide to ACA health insurance eligible clients is assisting them to determine their Modified Adjusted Gross Income, MAGI. This unfortunately puts agents in the role of being income and tax experts. One of the biggest questions agents get is what qualifies as household income for the purpose of receiving the Advance […]