By skyforbes Good morning,
I've been able to get some help through the kind people here. Some of you guys are super busy helping others, so I know it's hard to reply back to somebody on every question they may have.
I never knew any income on my investment(brokerage) account would count towards monthly limit. It took me forever to even find out what I'm looking at on my monthly statement, but I now realize under the Gain/Loss column, a total is provided. So, the number in that column, interest and capital gains would be my income for my investment, correct?
While I'm not over in July, it appears that for the month of August, my investment income and small self employment income will put me over the $1,800 limit(by like $200). Since that will more than likely be the case, what is the first steps I HAVE to take?
It's probable that for Sept, Oct, Nov and Dec I will be over as well, but nothing is guaranteed for sure. I can say definitely for the year, I won't even come close to $21,597. if I had to guess, the years total income would be around $12,000.
What exactly happens when you go over the limit for 1 month or a couple months, but won't come close to the annual of $21,597?
Naturally I would like to stay on Medicaid. It could very well be that I don't go over $1,800 for Sept-Dec, but like I said, won't know till those months come about.
I just want to take the correct steps moving forward.I know we all NEED health insurance, so obviously I want to make sure I'm always covered.
I know I have to report the income. The earliest I will be able to report my income for the month of August will be Sept 6. So, after that what are my next steps? Will I get kicked off of Medicaid? Obviously, there are going to be follow up questions to those who may provide some feedback. I'm unsure what else to include at the moment.
Sorry for lengthy message
Thank you