Paul Musgraveis it just me or is this basically personal finance fanfic, is anyone making $30k putting aside $6k in tax-advantaged savings accounts?
These numbers do not seem accurate???
Darin Self@profmusgrave As someone who recently lived on $30k a year this is laughable
lydia@profmusgrave Maybe if they wanted to drop their MAGI in order to qualify for Medicaid or CHIP instead of paying for employer-provided insurance?
@Lydia_Beeyoobee I know nothing about this stuff--too far removed from this bracket, alas--but this seems like a very niche case, no? And they'd almost certainly save less than this calculaiton suggests, right?
@Lydia_Beeyoobee oh, so you'd take the deduction to become eligible for subsidies? mayyyyybe? but this seems far-fetched (if no longer fanfic). and it therefore seems even worse that you have to annually renew this!
@profmusgrave If you’re on the fence between Medicaid eligibility vs not (so a subsidized bronze plan that’s affordable, or your pricey employer plan), it could mean the difference between having a high deductible/out of pocket vs none at all under Medicaid
Suzanne Paley@profmusgrave I don't know where that came from, but that's only one income in a two-income household. As someone else pointed out, no way a household making only $30K (with dependents in daycare, no less!) is paying 25% tax.