What does Obamacare mean for expats?
There has been substantial press coverage over the last couple of days of the Supreme Court’s decision upholding “Obamacare”.
Under the plan, individuals will have to pay a penalty if they fail to carry health insurance for themselves and their dependents.
These provisions apply to US citizens and resident aliens.
While there exemptions for certain categories of individuals, there is no exemption for individuals living outside of the United States.
However, the legislation does provide that such individuals will be treated “as if” they have obtained the “minimum Essential coverage” for any month if they are a bona fide resident of a foreign country or countries for an uninterrupted period which includes an entire taxable year, or during any period of 12 consecutive months, they are present in a foreign country or countries during at least 330 full days in such period.