I'm in the process of getting access to MBIWD, but it's taking too long and the process is extremely confusing and hard to navigate. I have to waive or enroll in benefits by beginning of January and cannot make changes until end of calendar year next year so I need to make a decision ASAP. Marketplace plans have skyrocketed since they got rid of tax credits and would actually be worse than my work benefits.
To be clear, while I am currently trying to apply for MBIWD for long-term coverage as I begin a real career, I have not been deemed disabled by Medicaid and from what I have read online, I believe I am enrolled in Medicaid Expansion which is for adults with no dependents and has no asset limit. Please correct me if I am wrong as that changes my situation. I've never been asked about my assets, I have only had to submit paystubs occasionally to prove income. I've never received SSDI or disability benefits because I can work (while medicated and receiving the services I do). I've always been on Medicaid due to having a low income and I currently file by myself.
I am wondering if contributing to a traditional IRA, since it will lower my MAGI, will allow me to continue to be eligible for my Medicaid while I wait for MBIWD. This was suggested to me and seems to be a solution based on my research, but I am skeptical. I am open to other suggestions/advice as well. I have asked HR if I can reduce my hours, but I am doubtful that would be approved.