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  • weirdgirlinkorea
  • Moderator - LVL 2

    • 2044

    • September 09, 2010, 06:00:18 pm
    • Seoul
    more
ACA and how it (or doesn't) affect us...(Americans)
« on: October 08, 2013, 10:09:24 am »
So after a lengthy and somewhat heated discussion with my brother about the Affordable Care Act, I went and did my research. He maintained two things and he was right about one and not the other. I maintained that I didn't have to file taxes while abroad. I didn't do it for two years I earned income in Korea and not in the US and heard nothing from the IRS about it. So I figured it was fine. He's right, we have to file but we don't have pay any taxes (unless somehow you're pulling megabucks in Korea).

The other item was the Affordable care act. He maintain even abroad we have to be covered by it or we will be fined. He's wrong. So just in case any of you were even remotely wondering about this, here you go:

https://www.healthcare.gov/am-i-eligible-for-coverage-in-the-marketplace/

To me it seemed obvious, but I had to be sure (I wanted to win the argument). :laugh: :P
And here's another good site that I stumbled across for us for any other questions about living abroad as Americans.

http://americansabroad.org
« Last Edit: October 08, 2013, 10:11:29 am by travelinpantsgirl »
Ignoranţa este adesea o boală fatal şi cretin nu poate fi vindecata.


Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #1 on: February 06, 2015, 10:03:06 am »
I'm digging up this ancient post in the hopes that someone (maybe the OP who obviously did some research) can help with all the confusion I feel about this.

I've been in Korea since August 2014 and I'll be leaving August 2015. I've been putting off dealing with health insurance both because they were confusing as hell last year and because the website (as usual) hasn't been working, but apparently the deadline is next week.

I know that if I were here all of 2015 I wouldn't need insurance, but since I'm leaving in August do I need to sign up? Do I need to sign up now? If I do, is there a form I fill out? BTW, this is for New York State which is a separate entity but which, I believe, still has the same general rules.

Hopefully someone here can help because when I tried to talk to the helpers about insurance last year from within the US I had a ton of trouble. I don't imagine it will be easier from Korea.


  • Ley_Druid
  • The Legend

    • 2465

    • February 17, 2011, 08:36:33 am
    • Shinan-Gun, Jeollanam-Do, South Korea
Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #2 on: February 06, 2015, 10:42:12 am »
From what I understand is that you sign up when you return home. I was also told you have 90 days to sign up, but I am not sure. I will return in May, and I am not going to worry about it until after I settle in and get a job.


Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #3 on: February 06, 2015, 11:51:03 am »
Okay, that helps, thanks.

It put me through so much stress last year that I'd sort of rather take the chance of paying the penalty than worrying. I'm so in support of the goals of the ACA that it's a true shame to see it put into practice so poorly.


  • country09
  • Expert Waygook

    • 653

    • January 05, 2011, 10:04:21 am
Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #4 on: February 06, 2015, 11:56:31 am »
It put me through so much stress last year that I'd sort of rather take the chance of paying the penalty than worrying.

Just curious. What is the penalty?


Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #5 on: February 06, 2015, 01:22:38 pm »
I'm not sure if you mean a general "What is it?" or "How much is it?" so I'll semi-answer both.

The penalty at tax time next year, which I don't know a lot about because I've been hoping that obliviousness will magically prevent me from having to worry about it. If not signed up for some sort of insurance, I believe it's somewhere between 10-20% of your net income.


Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #6 on: February 06, 2015, 01:32:42 pm »
https://www.healthcare.gov/fees-exemptions/fee-for-not-being-covered/

Penalty for not having coverage in 2014:
Higher of 1% of household income or $95 per adult and $47.50 for everyone under 18.

2015:
Higher of 2% of household income or $325 per adult and $162.50 per child.

2016:
Higher of 2.5% of household income or $695 per adult. It doesn't say so, but presumably the child fee is half the adult.

Beyond:
Adjusted for inflation.


Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #7 on: February 06, 2015, 02:11:33 pm »
lol Yes, thank you. I swear 1-2% is what I meant  :shocked: I don't think I'd take a chance for 10 to 20%.


  • nschenk512
  • Super Waygook

    • 294

    • March 04, 2013, 08:52:49 am
    • Busan, South Korea
Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #8 on: February 06, 2015, 03:13:23 pm »
Technically, your brother is wrong about the taxes thing. Just because the IRS didn't hunt down one expat living in a foreign country doesn't mean you don't have to do it. You won't pay any taxes on income made here, but you still have to say that you worked and were paid overseas.


  • weirdgirlinkorea
  • Moderator - LVL 2

    • 2044

    • September 09, 2010, 06:00:18 pm
    • Seoul
    more
Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #9 on: February 06, 2015, 03:17:13 pm »
I was the one who said you didn't have to file. I still I have not filed while I have been in Korea, and I've decided not bother as I have no intention of ever going back there to live and when I did (involuntarily) I filed because I was there for one year, but that's the last time I filed or had any association with the IRS... :P My brother maintains I should file something.

Technically, your brother is wrong about the taxes thing. Just because the IRS didn't hunt down one expat living in a foreign country doesn't mean you don't have to do it. You won't pay any taxes on income made here, but you still have to say that you worked and were paid overseas.
Ignoranţa este adesea o boală fatal şi cretin nu poate fi vindecata.


  • nschenk512
  • Super Waygook

    • 294

    • March 04, 2013, 08:52:49 am
    • Busan, South Korea
Re: ACA and how it (or doesn't) affect us...(Americans)
« Reply #10 on: February 06, 2015, 03:21:02 pm »
Ah, sorry. Yes. But you should. Tsk tsk. etc...


  • IzEFunni
  • Veteran

    • 104

    • December 15, 2011, 09:35:38 am
    • SKorea
Yo USA Peeps--If I work outside the US do I have to pay for healthcare?
« Reply #11 on: February 13, 2015, 12:42:45 pm »
If I work outside the US do I have to pay for healthcare.--

What do you guys think?

How did you handle your US taxes?


D. Foreign Issuer Coverage

1. In general, under section 5000A(f)(4) and 1.5000A1(b)(2) of the final regulations, an individual is treated as having minimum essential coverage for a month if the individual is a bona fide resident of a United States possession for the month, or if the month occurs during any period described in section 911(d)(1)(A) or section 911(d)(1)(B) that is applicable to the individual. Section 911(d)(1)(A) is applicable to a citizen of the United States who has a tax home outside the United States and is a bona fide resident of a foreign country or countries during an uninterrupted period that includes an entire taxable year. Section 911(d)(1)(B) is applicable to a U.S. citizen or U.S. resident (as defined in section 7701(b)) who has a tax home outside the United States and is present in a foreign country or countries for at least 330 full days during a period of 12 consecutive months.   

From--
http://blogs.angloinfo.com/us-tax/2013/11/11/us-citizens-abroad-and-obamacare/
Work Study Draw!!!

Here's like my best text book Prezi http://tinyurl.com/cgqvbcy


  • weirdgirlinkorea
  • Moderator - LVL 2

    • 2044

    • September 09, 2010, 06:00:18 pm
    • Seoul
    more
Re: Yo USA Peeps--If I work outside the US do I have to pay for healthcare?
« Reply #12 on: February 13, 2015, 02:07:26 pm »
Please use the search function.

Here's your answer.

http://www.waygook.org/index.php/topic,61779.msg522434.html#msg522434

I'm now going to merge the thread.
Ignoranţa este adesea o boală fatal şi cretin nu poate fi vindecata.