The figure used to determine eligibility for premium tax credits and cost-sharing reductions to lower the cost of health coverage and care through Pennie. In addition, Pennie uses this figure as part of its assessment for individual and household eligibility for Medicaid and the Children’s Health Insurance Program (CHIP). MAGI is adjusted gross income (AGI) plus the following, if applicable: untaxed foreign income, non-taxable Social Security benefits, and tax-exempt interest.
- For many people, MAGI is identical or very close to their adjusted gross income.
- MAGI does not include Supplemental Security Income (SSI).
- MAGI does not appear as a line on your tax return.