Here is the scenario. We are going to hold our income at 36k for 2024 to achieve the best ACA cost/benefit. This will be accomplished with taxable interest and a Roth conversion if necessary. The monthly premium will be $112 all in. Since we are RE and have no employment income, is the total ($112x12mo=$1344) part of our standard deduction or is it an above the line deduction thus reducing ACA MAGI? We must stay above $34307 to avoid Medicaid.
PS. Am I correct in assuming that 2024 ACA income limits are set by 2023 poverty levels?
PS. Am I correct in assuming that 2024 ACA income limits are set by 2023 poverty levels?
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