MAGI
Government & Politics abbreviation · Public Program
| Stands for | Modified adjusted gross income |
|---|---|
| Categories | Government & Politics |
MAGI stands for Modified adjusted gross income, a public program abbreviation also used in medicine and business.
Income measure used to determine eligibility for ACA premium tax credits, Medicaid for most adults and children, and various tax benefits. For health coverage it starts with adjusted gross income and adds back untaxed foreign income, tax-exempt interest and nontaxable Social Security benefits.
Example: Her MAGI was just under the limit, so she qualified for a premium tax credit.
Usage notes
MAGI-based rules replaced state-by-state income counting for most Medicaid groups in 2014, simplifying eligibility. The exact definition differs between programs: the MAGI used for Roth IRA contribution limits, for example, adds back different items. Asset tests generally do not apply under MAGI rules.
Related abbreviations
More public program abbreviations
- HCV – Housing Choice Voucher
- IDR – Income-driven repayment
- LIHEAP – Low Income Home Energy Assistance Program
- LIHTC – Low-Income Housing Tax Credit
- LPR – Lawful permanent resident
- MA – Medicare Advantage
- MSP – Medicare Savings Program
- NFIP – National Flood Insurance Program
- NRA – National Recovery Administration
- NSLP – National School Lunch Program
- OASDI – Old-Age, Survivors, and Disability Insurance
- OEP – Open enrollment period