We will be a family of 4 in April, and I am looking at insurance options - especially for the kids. We have qualified for the Washington state public health insurance in the past for our son (which is a screaming deal by the way) but are now in Colorado, with a higher income. I am slightly above the max cutoff based on full salary, so I have some questions about “lowering” that number in order to qualify.
The cutoff is 260% of the federal poverty level. So I am assuming that I need to contribute enough to a 401k or a IRA to bring my AGI down below that threshold (which is probably what we would be doing anyhow). Are there other strategies? Anything else to look out for? Thank you!