http://www.njfamilycare.org/income.aspxFinancial eligibility for individuals seeking eligibility for NJ FamilyCare will be based on their Modified Adjusted Gross Income or MAGI. This means the income and household size will be determined by their latest federal tax return which when filed, can be electronically verified. The tax-based household size provides a simplified income calculation.The law is that it's based on MAGI - not monthly. If your paystubs aren't an accurate depiction of your annual income, send in last years tax return which is the most accurate way to determine your MAGI.
Although the paperwork asks for your paystubs and not for your tax return, sending in your tax returns without paystubs works (as it should).
For most people - MAGI will be the same as their AGI (last line on page 1 of 1040). Possible items that may cause MAGI to be higher than AGI are, to get to MAGI, take you AGI and add back in the following deductions if any:
Student loan interest
One-half of self-employment tax
Qualified tuition expenses
Tuition and fees deduction
Passive loss or passive income
IRA contributions, taxable social security payments
The exclusion for income from U.S. savings bonds
The exclusion under 137 for adoption expenses
Rental losses
Any overall loss from a publicly traded partnership
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