What is the income limit for Pennie?
Asked by: Theodora Olson | Last update: September 28, 2025Score: 4.8/5 (7 votes)
Why am I not eligible for Pennie insurance?
Can I get coverage? You can apply and get covered through Pennie if you are a PA resident that is a citizen, a U.S. national, or if you have qualified immigration status. If you're not covered through your job or a government program like Medicaid or Medicare, you can enroll in a high quality plan through Pennie.
How does Pennie verify income?
Proof of Household Income. Paycheck stubs showing employee information, pay date or pay period, and gross amount of pay, for the 4 weeks prior to the date listed on your notice. 1040 federal or state tax return from the previous year if representative of attested income.
What is the maximum income to qualify for medical assistance in PA?
If the applicant has gross income which is $2,829 or less, then the person's resource limit is $8,000. Examples of “countable assets” include checking and savings accounts, stocks, bonds, brokerage accounts, and non-resident real estate. This income limit, now $2,829/month, normally changes on January 1st of each year.
What is the highest income to qualify for Medicaid 2024?
Parents of Dependent Children: Income limits for 2024 are reported as a percentage of the federal poverty level (FPL). The 2024 FPL for a family of three is $25,820. Other Adults: Eligibility limits for other adults are presented as a percentage of the 2024 FPL for an individual is $15,060.
Lunch & Learn #5 Income Requirements & Overview for Pennie
How does Affordable Care Act calculate income?
The Marketplace uses a measure of income called Modified Adjusted Gross Income (MAGI). It isn't a line on your tax return. Your total household MAGI amount includes countable income for each person listed on your federal income tax return for the year you're getting help paying for coverage.
What disqualifies you from the premium tax credit?
For tax years other than 2021 and 2022, if your household income on your tax return is more than 400 percent of the federal poverty line for your family size, you are not allowed a premium tax credit and will have to repay all of the advance credit payments made on behalf of you and your tax family members.
Who can apply for Pennie?
U.S. citizens, nationals, and those who are lawfully present are eligible for qualified health and dental plans through Pennie. The term “lawfully present” includes immigrants who have: “Qualified non-citizen” immigration status without a waiting period.
What is a household for Pennie?
Follow these basic rules when including members of your household: Include yourself. Include your spouse* or domestic partner. Include anyone you plan to claim as a tax dependent for the year you want coverage\n. Include any child under 21 you take care of and who lives with you, even if not your tax dependent.
What counts as income?
Income can be money, property, goods or services. Even if you don't receive a form reporting income, you should report it on your tax return.
Why did PA switch to Pennie?
By establishing Pennie, the state can offer access to health insurance products from private insurers. As of 2022 – the most recent year such statistics were available – Pennsylvania ranked ninth in the country for the lowest uninsured rate, with 5.4% of its population lacking health insurance.
What to put for income type?
Three of the main types of income are earned, passive and portfolio. Earned income includes wages, salary, tips and commissions. Passive or unearned income could come from rental properties, royalties and limited partnerships. Portfolio or investment income includes interest, dividends and capital gains on investments.
How do I know if I qualify for the Affordable Care Act?
Must live in the United States. Must be a U.S. citizen or national (or be lawfully present). Learn about eligible immigration statuses. Cannot be incarcerated in prison or jail.
What is not counted as income?
Inheritances, gifts, cash rebates, alimony payments (for divorce decrees finalized after 2018), child support payments, most healthcare benefits, welfare payments, and money that is reimbursed from qualifying adoptions are deemed nontaxable by the IRS.
What is the total annual income?
Annual gross income is what you receive before taxes and other deductions. Annual net income is the amount that's left after taxes and other deductions are taken out. To calculate your annual gross income, you can multiply your gross pay by the number of pay periods you have in a year.
How can I avoid paying back my premium tax credit?
Report any changes in your income during the year to the Marketplace, so your credit can be adjusted and you can avoid any significant repayments at the end of the year.
What happens if I underestimate my income for Obamacare in 2024?
For the 2024 tax year, if you underestimated your income and received a larger tax credit than you were eligible for, you must repay the difference between the amount of premium tax credit you received and the amount you were eligible for.
Can I refuse health insurance from my employer and get Obamacare?
Obamacare is available to everyone, whether or not their employers offer insurance. From a practical standpoint, though, there are financial consequences to doing this. Often, an employer subsidizes part or all of their employees' coverage.
Is my income too high for Medicaid?
The income limits for Medicaid applicants can change depending on the state where they live, their marital status and the Medicaid program. In general, however, the income limits are low. In most states in 2025, the income limit for receiving long-term care at home or in a nursing home through Medicaid is $2,901/month.