Need advice on health insurance

[UniqueUserName]

8. If you qualify for Medicaid and your state did not expand Medicaid. . .

. . . You may be able to purchase your health insurance on the health insurance Marketplace and get a subsidy that will basically deliver a silver plan for free.

If you make at least 100 percent of the federal poverty level (currently about 15,100) you qualify for a subsidy. You can use whatever method possible to get up to 100% of the federal poverty level. Let's say you were at $12,000 in earned income, you are allowed to take out 3,100 out of your 401k to make up the difference to qualify for a subsidy. You will, in many circumstances, get that additional 10% penalty for early withdrawal from your 401k. But that will qualify as ordinary income to get you over the $15,000 Mark to qualify for a subsidy.

Hope that helps!