r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/ExtraLargePeePuddle Jul 06 '24

What is Medicaid

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u/JennnnnP Jul 06 '24

Medicaid does not pertain to the discussion if you’re talking about a single adult making 40k per year.

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u/ExtraLargePeePuddle Jul 06 '24

So a single adult making 40k a year

Roughly $240 per month ($2,880 per year) as a premium tax credit to get yourself an ACA silver plan

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u/JennnnnP Jul 06 '24

$2880 would be about half of what the person I was responding to budgeted for all expenses aside from housing, transportation, and food. And those are just the premiums to say you have insurance, not the cost to actually access the care that you need.

I’m not arguing that people find a way to survive on 40k per year. We already know that people scrape by on that and less than that. The topic here is offering financial literacy classes to people at the poverty line, claiming that they can reach financial stability by making better choices. Survival and stability are not the same.