Question: I’ve been on a sabbatical for a couple of years so my income has been close to 0 this past two years. I’m assuming that this could make me eligible for Medicaid, although I doubt it because my net worth is significant. Will I still be able to buy insurance from the exchanges if I qualify for Medicaid but I prefer one of the plans offered there?
Answer: Only your current modified adjusted gross income (MAGI) and not your assets will be taken into account in determining your eligibility for coverage in Covered California. If you are eligible for Medi-Cal you cannot also be eligible for a premium subsidy in the Marketplace. However, you may opt out of Medi-Cal and purchase unsubsidized coverage either in Covered California or in the market outside the exchange.