4. Household Income
In this section you will report current income for each person listed on your application. Do not report income no longer received. We will use each person's current income to calculate their projected annual income for the coverage year you are applying for. If you think the projected annual income will be different, you can provide us with a different amount.
Income to Report
MNsure estimates your household income to figure how much financial assistance you may get. The MNsure application will ask questions about household income for the year you want coverage, not last year’s income. You may use last year’s income to estimate income for the year you are seeking coverage, but you must make a best estimate on your expected household income to get the correct amount of financial help.
Depending on the income source, you may have an option to enter your income as monthly or yearly.
What if my household income changes during the year?
Report income and household changes as soon as possible. If you don’t, you could end up with the wrong amount of financial assistance or even the wrong health insurance plan. You will need to contact the MNsure Contact Center, the Minnesota Department of Human Services or your county or tribal agency depending on which program you are eligible for. Read more about updating your income during the year.
Whose Income to Include
Most households include the tax filer, their spouse if they have one, and their tax dependents, including those who don’t need coverage. MNsure uses estimated income of all household members who are required to file a tax return, even if they are not applying for coverage.
Why do I need to include people in my household who don’t need insurance?
MNsure marketplace savings are based on income for all household members, not just the ones who need insurance.
If anyone in your household has coverage through a job-based plan, a plan they bought themselves, a public program like Medical Assistance (MA) or Medicare, or another source, include them and their income on your application.
When you apply you’ll say which household members need coverage.
How Is Income Counted?
MNsure uses “modified adjusted gross income” (MAGI) to determine the programs and savings you are eligible for. For most people, it’s identical or very close to adjusted gross income (AGI), which is a line on your federal tax return. MAGI is not a line on your federal tax return.
If an individual's current income hasn't changed from their most recent tax return, you can use that tax return as a guide on what types of income and deductions to report.
The application will compare the information you provide with information from the IRS, the Social Security Administration, the Minnesota Department of Employment and Economic Development and other sources. You will be asked to provide proof of the income if what you report is significantly different than the income from these sources.
Select all the individuals who have income. "Income" is any of the following:
- All taxable income. Taxable income is income you would list on lines 7-22 of a 1040 tax form. If you are not sure if a particular type of income is taxable, visit the IRS website at www.irs.gov.
- All foreign earned income, including foreign earned income that is not taxable.
- All interest income, including interest income that is not taxable.
- All Title II Social Security benefits, including Title II income that is not taxable. Title II Social Security benefits include retirement, disability and Railroad Retirement benefits. Supplemental Security Income (SSI) is not Title II income.
Do NOT include other nontaxable income, such as:
- Child support
- Income from an ABLE account
- Supplemental Security Income (SSI)
- Worker's compensation
- Veteran's payments
Enter each household member’s current income. There will be a place to adjust projected annual income later in the application.
Help with this section:
- If a frequency other than “Yearly” is selected the application will calculate yearly income amount using the “Amount” and “Frequency" fields.
- If "Wages before taxes" is selected for "Income Type", additional fields will appear for employer information.
- Some income types such as unemployment only allow certain frequencies to be selected
- The "Income Type" selection will only allow you to pick one income type at a time.
- If a person has more than one income type, select "Yes" on the last question and you will be able to enter another income type and details.
- If none of the income types apply, but the income would be listed as income on a 1040 tax return, select "Other taxable income."