At this point I'd be below 133% FPL which would place me in one of the "Medicaid" plans Massachusetts offers. What are the cons for being on Medicaid? Is the reason due to less choices in health plans and care providers? Is there anything else I should be concerned about with having a low MAGI?
At this point I'd be below 133% FPL which would place me in one of the "Medicaid" plans Massachusetts offers. What are the cons for being on Medicaid? Is the reason due to less choices in health plans and care providers? Is there anything else I should be concerned about with having a low MAGI?
It apparently varies by state.
My state is pretty good, but some states the doctors tend to be younger/newer which may be viewed as a good thing (more recent training, more energy and enthusiasm) or a bad thing (less experience).
Also availability can be a thing. The wait to see a Medicaid doctor isn't really any different than using other health insurance. But if you want to see a Medicaid dentist, they have no availability for the next 9-12 months.
I'd ask friends in your state with experience being on Medicaid.
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Not a health care thing, but if you're going to have more income later, it might make sense to level out your income to the extent you can. This will usually produce the lowest lifetime income taxes.
If you can control your income (such as roth conversion) to just above 150% FPL, you can get the best ACA plans with $0 premium with subsidy.
You want to be just under 150% FPL, not just over. You'll get the best subsidies at 149% FPL, and those will be better than the subsidy at 151% FPL.
It's possible to get $0 subsidized premiums at any FPL, depending on the cost of the plan, your age and tobacco use, the state you live in, etc. I've seen it done with FPL in the 275% range, for example.