There is no such thing as a one-size-fits-all insurance plan. Before securing an international insurance plan that is best tailored to the needs of you and your family, outbound expats moving out of the US will need to consider a few key questions before you weigh up your coverage options and look at the insurance solutions available. You can click on the [+] in each of the sections below for further information on each of the considerations.
Are you a bona fide foreign resident of another country? [+][-]
US outbound taxpayers who are viewed as bona fide foreign residents by the IRS will be considered to meet MEC requirements. There are a very specific set of rules set out by the IRS that determine whether or not you are a bona fide foreign resident of another country, and it is important to note that not all outbound expats will meet the definition. To find out if you qualify as a bona fide foreign resident of another country, you can complete the Bona Fide Residence Test available on the IRS website.
Will you be out of the US for 330 days of the tax year? [+][-]
If you are out of the US for 330 days or more out of a 12 month period, you will not be required to secure an ACA compliant plan. Please be aware that if you do plan to visit home for over 35 days and require health care in the US with a non-compliant plan, you will be subject to penalties. Penalties are calculated by month and assessed annually. For example, penalties applied to coverage for one day out of a month still counts as coverage for an entire month. You can visit the fines page for further information on penalties.
Is your family also moving with you? [+][-]
Despite being an outbound expat, people who spend more than 35 days in the US are still subject to penalties. If your family is moving with you, the penalties will also be higher depending on how many adults and children you have in your family. Those with an annual combined income of above $200,000 USD will be charged 2.5% of their income over the tax-filing threshold in 2016. You can visit the fines page for further information on penalties.
What kind of product flexibility do you need? [+][-]
Depending on your healthcare needs, some plans offer a higher degree of flexibility than others. To find out about the flexibility of the different plans available, you can have a look at the coverage options page.
Now that you have addressed the various key considerations, it’s time to look at the coverage options available.