Kevin Knauss: Health, History, Travel, Insurance
The MAGI reported on lines 11, 6a, 6b, 2a, 2b, and 1h. Income from the schedules, such as schedule C Profit Loss from a business, is funneled onto line 1. You may need to find a specific schedule to determine the income or deduction to properly estimate your future income for Covered California. This is an income estimate. It is not necessary based on your last file federal tax return.
Regardless of the error, Medi-Cal updates the Covered California income section denying the non-Medicare spouse their private health insurance with the subsidy. The spouse is determined Medi-Cal eligible and their health plan is terminated.
Because of the Social Security Fairness Act, Jan will receive a monthly benefit of $1,000. Unfortunately, Jan doesn’t receive the one-time lump payment for 2025 until December, too late to amend their Covered California income estimate. Jan and David must reconcile the higher annual income on their federal income tax return.
Individuals and families have a 60-day window to enroll in Covered California, or if they are current consumers, change their health plans. If someone has lost their health insurance because of the Palisades Fire, they can enroll in Covered California, outside of Open Enrollment, by March 8. If the individual or family wants the health insurance to start March 1st, they need to enroll by February 28th.
Fourteen years ago, when I changed careers to insurance, my net revenue for the first two years was zero. It wasn’t until 2014, after I had exhausted my retirement funds, that I was making enough money to pay the bills with a net income of $21,724. I never imagined my net revenue would hit six figures and 2024 may be my peak revenue year.
If all you want is the lowest total cost (MOOP plus premiums), you would opt for a Bronze plan if the premium differential is greater than $229.17 per month between the Bronze 60 and Silver 73. If the premium differential is greater than $229.17 per month with the Silver 73, the total costs of MOOP and premium will be more than if you had a Bronze 60.
Covered California checks an IRS database of members to confirm they have filed a federal tax return. If you filed with an extension after April 15th, your federal tax filing status may not have been logged in the IRS system when Covered California checked the tax filing status. Consequently, many people who file their taxes with an extension are getting the Covered California letter stating they cannot confirm if the primary tax filer submitted a tax return. Another issue is if the primary tax filer for the last tax year is different than who is listed on the Covered California application.
Blue Shield of California, as well as other health plans, would like to break away from the large Pharmacy Benefit Managers and some of their distorted incentive and pricing structures. Unfortunately, the Pharmacy Benefit Managers perform many tasks involving price negation, handling the payments process from pharmacy to health plan, and managing the pharmacy network.
You need to request the report to make sure that the property in question is your home. Maybe they were looking at the wrong house. The images may show a condition that you have already addressed. When I received the risk assessment report, I knew the address was correct and it was my house.
Except for the initial funds from the federal government to establish Covered California back in 2011, they receive no federal or state money to fund their operations. While they do work under the Department of Managed Health Care, Covered California is an independent agency. They are funded by participation fees paid by the health plans.
