3) Bonus One time occurrence (Not expected to continue)
The customer receives a one-time bonus. She reports that this is unusual, and the employer verified that this was a one-time occurrence. The customer is paid weekly, and she provided 4 weekly paychecks. The gross pay for each of the checks were:
check 1 = $600.00
check 2 = $625.00
check 3 = $1,300.00 (Includes the $700 Bonus)
check 4 = $600.00
To determine the monthly amount to budget for a MAGI program:
Add all the pay amounts for the income period subtracting the bonus amount ($600 + $625 + $600 + 600) = $2,425.00
Divide by the amount of total number of pay periods ($2,425 divided by 4) = $606.25
Multiply by 4.3 because she is paid weekly ($606.25 x 4.3) = $2,606.88 (average monthly amount excluding the bonus)