I retired last week and just put in an application for Covered CA for coverage effective January 1st. I listed an estimated 2017 AGI of $23,400. I came to that figure based on a few thousand dollars in 1099-DIV and 1099-INT income and a few thousand dollars in Schedule C consulting income that I expect to continue, along with an estimate of planned Traditional IRA to Roth IRA conversions.
Based on my understanding, $23,400 should be just under the 200% FPL limit for single people of $23,760 ($11,880 x 2) and qualify me for a Silver Plan with subsidies and cost sharing. However I just got a message from Covered CA saying that I've qualified for MediCal (California's Medicaid).
Am I missing something obvious? Is Covered CA ignoring my 2017 AGI estimate?
Anyone have any idea what's happening, or what to do about it?
Medi-Cal Eligibility
Good News! Based on the information you gave us, we believe you may qualify for coverage through
Medi-Cal, or may continue to be eligible for Medi-Cal. The Medi-Cal office in your county will contact
you if they need more information.
You will get a separate notice about your eligibility for Medi-Cal. If you have already received a notice
about your Medi-Cal eligibility, please disregard this message.
Covered California Eligibility
You do not qualify for health insurance through Covered California, premium assistance (a federal tax
credit) or cost-sharing reductions (lower co-payments and deductibles) because:
You do not qualify for premium assistance (a federal tax credit) or cost-sharing reductions (lower copayments and deductibles) because your income is too low. This was based on your household
income of $23,400.00 for the year ($1,950.00 a month).