Taking a higher slary but falling off medicaid

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amother

Mon, Jan 01 2024, 3:18 pm

Being just under the Medicaid limit for a few years already I was offered another job with a higher job with a slightly higher salary, but I would lose all my benefits. I don't want to be dependent on the government forever (and also hope to make more in the future) but I feel it will be somewhat difficult having to pay for things that are costly that I got free for now. If you were in similar situtions as me how and when did you decide when its time to get the raise etc.. and lose benefits ?

TravelHearter

Mon, Jan 01 2024, 3:56 pm

You have to calculate how much you'll 'lose' in benefits, meaning how much money you'll need to spend when you fall off of Medicaid. Find out what insurance you would qualify for in the next income bracket, and also see if your job has increasing earning potential.

amother

Tanzanite

Mon, Jan 01 2024, 4:06 pm

You can do you, but I would not take the increase unless it covered MORE than buying insurance.

amother

Valerian

Mon, Jan 01 2024, 4:08 pm

Can you negotiate to make sure you're not coming out at a loss? Even if you break even but have the potential to grow later on it would be worth it

amother

Camellia

Mon, Jan 01 2024, 4:21 pm

Hi , I disagree with the above posters. I am the mother of a large family, my husband is still in kollel BH and I have never said no to a higher paying job or opportunity due to fear of losing government programs. Over the years, as my earning power increased BH we lost our government programs one by one. I have never looked back. I have friends and family who get tons of money from government programs but honestly they are crippled by it.

amother

NeonPurple

Mon, Jan 01 2024, 4:27 pm

amother Camellia wrote:

I agree. BH I was never on too many programs but I remember the Jerseycare cliff. We made up our minds to always pursue higher opportunities and bh never looked back. Also a kollel wife with huge achrayus. I also feared staying on programs would one day tempt me to lie and its very important for me to be yashar. At the same time I am somewhat self-employed so I knew I had potential higher earning power.

amother

Bluebonnet

Mon, Jan 01 2024, 4:27 pm

Obamacare premium increases as your income increases. If your income
Is just above the Medicaid line your premium will be pretty minimal.

Also if you put money in a pretax ira that money is not counted
As income. If you are 5000 above the Medicaid and you put 5001 in an Ira then u will still qualify for Medicaid.

I don’t know where you live but most decent size frum cities have organizations that help with obamarecare/Medicaid and are very helpful figuring out the numbers with you.

amother

Mon, Jan 01 2024, 6:21 pm

thanks for the answers. Kindof hard to figure out but I will calculate the numbers.

for the record besides for appointments I have gotten free medication , creams , orthotics (400 dollar value) eyeglasses etc. Would love to not be dependent on medicaid but it just feels hard taking that leap. But I guess better first make a calculation before deciding.

zaq

Mon, Jan 01 2024, 6:45 pm

It may be harder initially, but it's an investment in your future. If you stay where you are, you'll be stuck there forever, never improve your financial position and be dependent on, and limited by, government programs forever. If you take a higher-paying job, it will BEH be the first step towards an even higher salary with the sky being the limit. Staying put would be like deciding that it's too costly to buy your kids adult-size shoes, so you dose them with something that stops their growth at age 10 and they never grow any bigger. Ever.

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