Federal Poverty Guidelines / Levels for 2024 & Their Relevance to Medicaid Eligibility (2024)

FAQs

Federal Poverty Guidelines / Levels for 2024 & Their Relevance to Medicaid Eligibility? ›

For a family or household of 4 persons living in one of the 48 contiguous states or the District of Columbia, the poverty guideline for 2024 is $31,200. Separate poverty guideline figures are developed for Alaska and Hawaii, and different guidelines may apply to the Territories.

For a family or household of 4 persons living in one of the 48 contiguous states or the District of Columbia, the poverty guideline for 2024 is $31,200. Separate poverty guideline figures are developed for Alaska and Hawaii, and different guidelines may apply to the Territories.

The FPL is typically issued annually in January by HHS and is determined by household income and size. Within its annual report, the HHS shows the total cost needed by the average person per year to cover basic necessities such as food, utilities, and accommodation.

The federal poverty level (FPL) is what Covered California uses to determine whether you'll get financial help or if you qualify for Medi-Cal. It's a measure of income level issued annually by the U.S. Department of Health and Human Services.

Note: Income is family cash income. The poverty rate “including Social Security” is the official poverty rate.

To qualify, you must: Meet the medical requirements of Social Security's definition of disability. Be working and earning income (this can be part-time work). Have countable income less than 250% of the federal poverty level (in 2024, this equates to $3,158/mo.

Pay stub must include: Name of person must be on stub or other identifying information to link to the person (i.e., SSN). Pay stub must be issued within the last 45 days showing the gross amount (include tips, overtime, commission and bonus). A pay stub or check indicating only net amount is not acceptable.

What are federal poverty guidelines? The federal poverty guidelines, also known as the federal poverty level (FPL), measure a household's poverty status based on its annual income. The FPL doesn't look at just the income you take home—instead, your FPL is based on your modified adjusted gross income (MAGI).

The Oxford dictionary gives the definition of poverty as “the state of being extremely poor” and the definition for poor as “lacking sufficient money to live at a standard considered comfortable or normal in a society”.

What income puts you below the poverty line? ›

For an individual, the poverty threshold is $14,891. The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps).

The federal poverty level and taxes

For example, in 2023, a single parent with one child would be considered in poverty with a family income of less than $19,720 using the federal poverty guidelines for the 48 contiguous state. The amounts are higher for Alaska and Hawaii.

Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.

In 2024, the special minimum Social Security benefit for retirees at age 62 will be around $2,710.00 per month. However, it's important to note that this amount depends on your years of coverage and increases the longer you wait to begin claiming.

In 2024, if you're under full retirement age, the annual earnings limit is $22,320. If you will reach full retirement age in 2024, the limit on your earnings for the months before full retirement age is $59,520.

In January, the 2024 federal poverty level (FPL) was announced as $15,060. This is an increase from $14,580 in 2023. The annual FPL will impact ACA affordability calculations when using the FPL safe harbor to determine affordability.

The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps). Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year.

The FPL doesn't look at just the income you take home—instead, your FPL is based on your modified adjusted gross income (MAGI). Where you fall on the FPL will change yearly because the federal government adjusts the guidelines annually for inflation. The Omnibus Budget Reconciliation Act (OBRA) of 1981 (42 U.S.C.