What Is Modified Adjusted Gross Income For Medicare In 2023?
Subsidy Eligibility eHealth Insurance Resource Center from resources.ehealthinsurance.com Modified adjusted gross income (MAGI) is an important figure used to determine eligibility for certain healthcare benefits, including Medicare. Under the current Affordable Care Act regulations, MAGI is used to determine eligibility for premium tax credits and cost-sharing reductions, as well as Medicaid and the Children’s Health Insurance Program. MAGI is also used to calculate Medicare Part B and Part D premiums for those with higher incomes. In 2023, MAGI is expected to remain unchanged for Medicare eligibility. This means that if your MAGI falls within the designated range, you should still be eligible for Medicaid, the Children’s Health Insurance Program, and premium tax credits and cost-sharing reductions. However, if your MAGI is above the designated range, you may not be eligible for these benefits in 2023. How is MAGI Calculated? MAGI is calculated by adding certain income sources, su...