Both inbound and outbound expats should be aware that ACA regulations include a number of caveats, one of them being that people who spend under a certain amount of days in the US are legally required to have an ACA-compliant plan.Īre expats entering or leaving the US subject to ACA-related fines? The US is known for its strict healthcare laws, and the government officially follows a “play or pay” policy when it comes to securing plans that meet ACA regulations. The ACA is a complex law with numerous regulations that can often lead to great confusion, and as such some of you may be concerned as to whether the new ACA regulations will affect you.īecause of the complexity and uncertainty surrounding the new set of ACA regulations, many inbound and outbound expats have been subject to paying hefty fines when seeking treatment in the US without an ACA compliant plan or without meeting their “ Minimum Essential Cover” (MEC).
Affordable care act for dummies pdf update#
Pacific Prime is keeping abreast of the changes and will update the relevant information and pages within this section as and when the proposed changes become law.Īs a result of the Affordable Care Act (ACA) introduced in the US in 2010, all American tax paying residents including most inbound and outbound expats (people leaving their home country to live and work in another) are required to secure an ACA-compliant health insurance plan. For the time being the ACA is still intact as is.
That said, as of the writing of this update the Republican's plan has not been voted into law meaning that none of the proposed changes are effective. Starting as early as March 8, the ACA will undergo sweeping changes that will undoubtedly affect millions of Americans both in and out of the US. IMPORTANT UPDATE MA- On March 6, 2017, the Republican party announced their plan for the Affordable Care Act (ACA). The important thing to be aware of here is that you are still required to have health insurance in place before you file taxes in 2018. In many cases, companies are still required to provide health insurance, subsidization is still in place, and the existing exchanges will remain in place.
What this new bill means is that the penalties associated with not having compliant healthcare in place when you file for taxes will no longer apply when you file in 2019.Īs far as we can see, the remaining requirements and core of the ACA will remain in place.
IMPORTANT UPDATE FEBRUARY, 2018 - In late December 2017, President Trump signed into law a law that repealed the tax penalty associated with the Affordable Care Act (ACA) starting in 2019.
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