Income Types
The 3 primary types of Income
What is Unearned Income Earned Income and Self Employment?
x2.15
What is the formula for every two weeks?
Payer Source
What is Tier 1?
Is when BOTH the Self-Attestation and the income from the interface are BELOW Medicaid income guidelines
What is Both Below
KC5150 and Full Tax Return
What are the two ways to verify SE Income
Income which is not derived by wages.
What is Unearned Income?
Income the household expects to receive going forward from the month of application.
What is Prospective Income?
Is used to verify unearned income not verifiable in Tiers 1-3
What is Self-attestation
We use Self-Attestation as our monthly income amount
What is If the income is Reasonably Compatible
Attachment indicates what is needed to be a complete tax return
What is Schedule 1?
Advertises, Decides when and where to work and pays own expenses.
What is Self Employment?
Point in Time
What is Current Income?
Verified by employer call
What is Collateral Contacted?
Can use if within 30 days of anchor date
What is TALX?
If the business has been in operation for the entire tax year, set the divisor to.
What is 12
Unemployment Social Security payments Child Support
What are types of Unearned Income?
Using a Confirmed/Payer Source, Reasonable Compatibility, Full Month Budgeting, Partial Month Budgeting
What are the 4 Budgeting Methods?
At least 30 days of wages verification is provided
What is Full Month Budgeting?
Should be completed with all Applications and Reviews
What is the Reasonable Compatibility income test?
Schedule F
What is Farm Income
May be the result of work performed for an employer who reports the income or income that is earned through self-employment
What are wages
Change in employment, loss of job, loss of unemployment
What is a Change in Income
SSI and SSA Income Verification Source
What is SWSS?
The amount reported by the consumer is within
What is 20%?
A negative amount report on Schedule C
What is entering a $0 amount on the record?