I’m really lost here. At the end of this month, my daughter will be taken off Medicaid because the state says I’m making too much money.
If I go through the marketplace, it would cost me $200 a month for her insurance. She hardly visits the doctor; her last check-up was back in November.
I’m really scared. What should I do? Any advice?
Have you looked into Marketplace options or insurance through your job, especially if your daughter isn’t qualified for CHIP in your state? If you want to share your state with us, it might help clarify things. You could also try checking out personal finance forums for budgeting tips.
If you mention your state, household income, and how many people are in your home, people here can give you better advice on what your choices are.
You might want to look into whether your state offers a buy-in option for CHIP since it could be similar to Medicaid and potentially cheaper than the marketplace. You could also consider putting more into a retirement account to lower your income for eligibility purposes, or find a job that offers better benefits.
I’m a bit confused. It sounds like you have options, either the Marketplace or your work insurance. I’m a single mom of two and pay $300 a month for their insurance through my job. You just have to find a way to make it work.
@Tully
How do you manage that? My rent costs $1300, my car payment is $260, and car insurance is $160. I might be forgetting some expenses too.
Joss said:
@Tully
How do you manage that? My rent costs $1300, my car payment is $260, and car insurance is $160. I might be forgetting some expenses too.
What’s your salary each month? Can you break down all your expenses for us?
@Blake
I make $25 an hour, but I’m not sure what that adds up to.
My condo is $1300, car payment is $260, car insurance is about $160. My phone bill is roughly $120. Gas and electric vary; maybe about $100 a month? I’m not sure about groceries. I think I’m missing something.
I’m trying to manage my finances, but I’m also dealing with $5000 in credit card debt on one card.
@Joss
Have you thought about switching your phone plan? I recently found a plan for $20 a month for the first two years, then $30 for unlimited data.
Landry said:
@Joss
Have you thought about switching your phone plan? I recently found a plan for $20 a month for the first two years, then $30 for unlimited data.
That’s true, the OP said $120 a month doesn’t even include the phone payment, just the service. That’s super high.
Landry said:
@Joss
Have you thought about switching your phone plan? I recently found a plan for $20 a month for the first two years, then $30 for unlimited data.
What provider do you use?
@Joss
I went with Visible. They use Verizon’s towers. I’ve been happy with it since last November.
@Joss
At $25/hr, you’ll have about $52,000 a year before taxes. That’s around $2500 a month before taxes. After taxes, you should see about $2000. So, using a middle estimate of $2000 for your monthly income, you subtract all your expenses, and you should end up with around $1360 available, not counting food.
You should be able to save a bit for emergencies, buy food, and also pay for health insurance.
@Joss
You should look into CHIP applications. Here in Pennsylvania, it costs about $52 a month for a 2-person household. This could be excellent coverage; check your state’s income brackets!
@Joss
It’s a good idea to write down your budget. You need to understand how much you’re earning and what your expenses are. Find ways to cut back. That phone plan is really pricey. What about child support? $200/month from the marketplace isn’t too high. You can figure something out.
Have you filed your taxes yet?
@Blake
Writing a budget sounds good. Thank you.
Yes, I’m financing my phone, but that’s a separate payment. I’ve considered switching to Mint Mobile; I think I just need to take the plunge.
No, I don’t receive child support.
As for my taxes, they’re not completely filed yet, but that money will help pay off the $5000 credit card debt I have.
@Joss
Does your child have another parent? You could ask the state to help collect child support. It’s usually not that complicated to set up. A few phone calls can make a difference. Even if there’s no payment right away, the debt will accumulate. If the other parent owes taxes, the refund could go to you. Plus, if they own property, the state can place a lien on it. If you need to set it up, don’t wait because earlier is better.
@Joss
Pay down your credit and stop using it. Also, check this calculator for understanding your taxes better: Federal Income Tax Calculator (2024-2025).
Look into getting child support if you can.
Consider downsizing your financed phone. A cheaper one with Mint Mobile might be worth it. They can help you find compatible phones.
@Joss
How do you not know your paycheck amount? What’s going on?