What income should I include on my application for financial help?

The income you report on your application is called your Modified Adjusted Gross Income (MAGI). In general, it is your estimated adjusted gross income (the income you report when you file your federal taxes) plus any non-taxable Social Security, tax-exempt interest, or foreign income you have for the year for which you are applying. Remember to report income changes to Connect for Health Colorado to make sure you’re getting the right amount of Premium Tax Credit during the year.

Information about how to file taxes, including what incomes and allowances should be included, can be found on the IRS website.

You can use the following tools to better understand how income will be calculated.

Calculate MAGI Using Last Year’s Tax Return or Calculate MAGI without Last Year’s Tax Return

For the most accurate calculation, be sure to include income from all household members, including dependents with income.

Related FAQs:
Am I eligible for financial assistance to help pay for health insurance?
When do I report changes to the Marketplace?
Are there certain documents or information I need to fill out an application, and how do I submit them?
Who should I include on my application for financial assistance?

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