Modified Adjusted Gross Income (MAGI) will be the key number for some people applying for health insurance through their state exchange/marketplace. MAGI will be very important for people who work for themselves. So what is MAGI?
From the Berkely Labor Center document:
Under the Affordable Care Act, eligibility for Medicaid and subsidized health insurance through the Exchanges will be calculated using a household’s Modiﬁed Adjusted Gross Income (MAGI). The Affordable Care Act deﬁnition of MAGI under the Internal Revenue Code (1) and federal Medicaid regulations (2) is shown below. For most individuals who will apply for health coverage under the Affordable Care Act, MAGI will be equal to Adjusted Gross Income.