Obamacare: Do Expats Need To Buy Health Insurance?

[GS_Dirtboy]

Uh, let's see ... *opening US Congressional Checkbook*

1. Defense spending = $670 Billion Dollars. Value: Protecting US Borders, targeting domestic and foreign terrorists Result = more terrorists.
2. Social Security = $768 Billion Dollars. Value: Ensuring retirees have sustainable income Funding other underfunded programs. Result = more retirees than available funds.
3. Medicare and Medicaid = $802 Billion Dollars. Value: Ensuring the elderly and low-income citizens have access to health care. Result = constantly increasing expenditures for aging population creates an indefinitely underfunded program. However, ensures private insurance companies long-term returns.
4. Education ... E-du-ca-tion ... Hmm ... hang on, maybe it's in the back of the book. .... Wait, I know it's here somewhere ...

 

[nlaruccia]

Having a mailing address in CA isn't a problem. I've had one for the last 8 years that I haven't lived in the US. Having a driver's license, etc. in CA would be a problem, not only for Uncle Sam but for Uncle Jerry as well.

I have a mailing address in California and a New York driver's license.

 

[camberiu]

I have a mailing address in California and a New York driver's license.

Just the fact that people feel the need to post these questions should be enough evidence of the absurdity of this law.

 

[sleslie23]

I have a mailing address in California and a New York driver's license.

When I moved here, the Deloitte and Touche accountant my company provided strongly suggested that I not renew my CA driver's license to avoid potentially owing California taxes, even on my Argentine salary. Not sure if this was a load of BS, but it seems that CA has pretty draconian tax laws.

 

[irina]

I'm SO confused by what I do and don't have to pay!

I don't meet the physical presence test requirements cause I have fortunately/unfortunately spent less than 330 days outside of the US this year.

I work for a company in the US, I get paid into my US bank account, for all uses and purposes I work in the US. So I don't think I meet the tax home requirements?
I also have my mailing address in Texas and don't want to give up my Texas driver's license, my parents live out in the country in a small town, trips would be unbearable if I can't drive!

I am a permanent resident here now, but just since two weeks ago, I don't think I meet the bona fide resident requirements?

I'm going to be fined/taxed for not having health care in the US right? I can't figure out how to prove that I live in Argentina! So annoyed, and I have health care here, that I'm MORE than happy with.

 

[sinagua980]

I'm going to be fined/taxed for not having health care in the US right? I can't figure out how to prove that I live in Argentina! So annoyed, and I have health care here, that I'm MORE than happy with.

I've since learned that it's all related to your IRS filing status.

"The PPACA [Obamacare] exempts American expats living abroad from the penalty tax" if they qualify for the Foreign Earned Income Exclusion. Here's the actual form too: http://www.irs.gov/pub/irs-pdf/f2555.pdf

"Americans living abroad who qualify for the Foreign Earned Income Exclusion are considered to have the required amount of health insurance. If an American expat doesn’t have a health insurance but qualifies for the Foreign Earned Income Exclusion, s/he is still exempt from the penalty tax. The IRS will definitely pay more attention to a US expat tax return in the future to identify people who wrongfully claimed the FEIE." source

 

[GS_Dirtboy]

I'm SO confused by what I do and don't have to pay!

Here is an easier question to answer: Two trains are scheduled to depart at the same time, 12:45 pm. One train leaves New York's Penn Station headed to Chicago. The second train leaves Chicago's Union Station headed to New York 17 minutes late. There are 789 miles between the two stations. If both trains average 93 miles per hour at what mile marker will the trains meet?

sinagua980 gave you the correct answer.

 

[Jaredberryman]

I'm SO confused by what I do and don't have to pay!

I don't meet the physical presence test requirements cause I have fortunately/unfortunately spent less than 330 days outside of the US this year.

I work for a company in the US, I get paid into my US bank account, for all uses and purposes I work in the US. So I don't think I meet the tax home requirements?
I also have my mailing address in Texas and don't want to give up my Texas driver's license, my parents live out in the country in a small town, trips would be unbearable if I can't drive!

I am a permanent resident here now, but just since two weeks ago, I don't think I meet the bona fide resident requirements?

I'm going to be fined/taxed for not having health care in the US right? I can't figure out how to prove that I live in Argentina! So annoyed, and I have health care here, that I'm MORE than happy with.

Please note that a DNI is probably enough to prove that you are an Argentine resident. That is very good proof you are a resident, even if you don't qualify for the 330 days. However, I'm not sure about claiming the exemption since you got you residence at this time of the year. However, if you'll read the information from the IRS, it appears that you can claim the foreign income tax exemption for the part of the year that you had bona fide residence (which in this case would be when you got your DNI). You might want to consult with an accountant, but that appears to be the case according to the information I read from the IRS (I also called them on this one, but they are virtually useless). Another words, this is designed if you suddenly moved in the middle of the year to a foreign country. You only have to pay income tax on the part of the year you resided in the U.S.

Mailing address has nothing to do with anything, as that is only your U.S. mailing address and you can have a foreign domicile but a U.S. mailing address.

 

[Peony54]

Are you sure they don't need to pay taxes since their income is from a us company?

 

[sleslie23]

This should scare the crap out of anyone, independently of political affiliation. These are the folks who vote. These are the folks who pick the guys who will define US policy. And they are CLUELESS. They are the lowest common denominator, and politicians both on the left and on the right, cater to them.

The sad thing is that it didn't scare me, though it definitely should. Unfortunately, it's the behavior and attitude that I expect from your average voting american.