What does it cost to go over Medicaid limit? NY

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amother

Mistyrose

Thu, Jan 12 2017, 12:45 pm

We are currently making just under the medicaid limit in NY. We pay no out of pocket expenses for healthcare.. but are drowning in debt from basic living expenses. Both DH and myself are self-employed.

We are working to increase DH's income, which will push us over the limit. If it goes well, IYH, we will be over the limit by $20K. Maybe even more. But it will be a major investment of time and I'm trying to work out the numbers.

What are the effective health care costs for a family of 7 that make too much for medicaid? Including insurance costs and out of pocket costs.

How much extra do we need to make once we no longer qualify for medicaid to still come out ahead after healthcare costs?

amother

Tan

Thu, Jan 12 2017, 1:47 pm

If you live in NY there is a plan called the New York essential plan, with a family of 7 you can make over 70k and still qualify, its almost like Medicaid, it costs $20 per adult without dental and vision and $40 per adult with dental and vision, the kids can be on child health plus for no fee,

Re expenses, given that healthcare will not be an expense, the other factors are taxes and tax return,

You will not be earning the juicy 12k tax return that low income families get, also taxes will run you about 12k a year given the fact that you are self employed you will be paying both sides, employer and employee,

I was basing this on a 70k annual income,

Hope this was helpful for you......................

amother

Linen

Thu, Jan 12 2017, 2:02 pm

thanks for asking the question and the info. we are also at a new stage in our life and want to know what we have to deal with

amother

Tan

Thu, Jan 12 2017, 2:07 pm

I know a ton about this, ask away Smile

TwinsMommy

Thu, Jan 12 2017, 5:07 pm

Juicy 12k tax return????? For a self employed couple? Better adjust those quarterlies.... that's interest free loaning to the government.

Is there anything like that essential plan in ohio? Health insurance shopping is so hard and everything I can find has horrible deductibles.

amother

Tan

Thu, Jan 12 2017, 10:44 pm

Well it's not really a tax return it's more like a handout to low income families, for most families if you are on Medicaid you are eligible for those credits specially if you are a family of 7

amother

Coffee

Thu, Jan 12 2017, 11:21 pm

Family of 9, got nowhere near 12k (income of about $45k).
Oh well, guess we filed wrong? Tongue Out

amother

Beige

Thu, Jan 12 2017, 11:45 pm

amother wrote:

Family of 9, got nowhere near 12k (income of about $45k).
Oh well, guess we filed wrong? Tongue Out

You probably did.
Because I'm a family of 5 making a bit under 35k a year and I got back an 11k refund. Unless you paid barely any taxes thruout the year?

amother

Tan

Thu, Jan 12 2017, 11:49 pm

Agree,

You should of gottan more if you are a regular W2 employee

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