DB101 Missouri - Glossary

Modified Adjusted Gross Income (MAGI)

Total annual income of everybody living in a household, including most earned and unearned income. MAGI is used to help determine eligibility for income-based MO HealthNet and for subsidies that help households pay for individual health coverage on Healthcare.gov.

MAGI includes:

Wages, salaries, tips, and other earned income
Taxable interest, dividends, business income, and capital gains
Social Security Disability Insurance (SSDI) benefits and Social Security retirement benefits of people who file taxes
Unemployment compensation; and
Most other types of taxable income.

MAGI does not include:

Supplemental Security Income (SSI), Temporary Assistance, Food Stamps, and veterans' disability benefits
Workers' compensation
Earned income that is placed in a 401(k) plan or Individual Retirement Account (IRA) (Income placed in Roth versions of these accounts is included in MAGI.)
Pre-tax deductions from a paycheck, including contributions to health savings accounts (HSAs) and flexible spending accounts (FSAs)
Child support received; and
Most other types of non-taxable income.