How Can I Be Paid on the Books and Keep My NYC Essential Plan?
Introduction: Balancing work hours and income as a nanny in New York City can be crucial for maintaining eligibility for healthcare benefits under the Essential Plan. This guide will show you how to strategically plan your hours, incorporating both regular and overtime pay.
Understanding the Essential Plan: The Essential Plan is a no-premium health program available to lower-income to middle income New Yorkers who don’t qualify for Medicaid. It provides comprehensive health services, including preventive care, without a deductible. Starting April 1, 2024, the income limits were extended to reach more New Yorkers in need of healthcare. For more details or to enroll in the Essential Plan, visit nystateofhealth.ny.gov. or check out The Essential Plan Fact Sheet 2024. Regularly updating yourself about changes in eligibility and benefits can keep you well-informed and secure in your employment and health benefits.
Income Limits and Eligibility: Here are the income thresholds by household size to qualify for the Essential Plan:
Single-person household: $37,650
Two-person household: $51,100
Three-person household: $64,550
Four-person household: $78,000
Calculating Work Hours with Overtime Consideration: For nannies who are the sole earners in their households, managing work hours wisely is essential. Below are the maximum hours you can work at various pay rates, taking into account that any hours over 40 per week are paid at 1.5 times the regular rate:
Example: Sole Earners age 19-64:
Hourly Rate: $20/hour (40 hours/week)
SIngle-person household: Does not qualify.
Two-person household: Can work up to approximately 316.67 additional overtime hours annually, totaling $51,100 annually.
Three-person household: Can work up to approximately 765 additional overtime hours annually, totaling $64,550 annually.
Four-person household: Can work up to approximately 1,213.33 additional overtime hours annually, totaling $78,000 annually.
Hourly Rate: $30/hour (40 hours/week)
SIngle-person household: Does not qualify.
Two-person household: Does not qualify.
Three-person household: Can work up to approximately 47.78 additional overtime hours annually, totaling $64,550 annually.
Four-person household: Can work up to approximately 346.67 additional overtime hours annually, totaling $78,000 annually.
Hourly Rate: $35/hour (40 hours/week)
Four-person household: Can work up to approximately 99.05 additional overtime hours annually, totaling $78,000 annually.
