5 Things Expats Need to Know About Obamacare

via Wall Street Journal

Tax adviser David McKeegan of Greenback Expat Tax Services says expats can’t simply ignore U.S. requirements for health insurance.  Here is his advice:

According to a recent survey of expats conducted by my company, awareness of “Obamacare” is high but understanding of its impact is not. While 95% of respondents have heard of Obamacare, 30% weren’t sure how or if they would be affected by it. These five facts about Obamacare may surprise you.

  1. Obamacare isn’t the official name.
  2. You aren’t automatically exempt just because you live outside the U.S.
  3. Claiming the exemption is simple.
  4. Some expats will be forced to pay a penalty tax.
  5. You are allowed a short gap in coverage every year—penalty free.

Read the full article here

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About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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