ACA Insurance for Expats: What You Need to Know

Turning 26 and aging off your parents’ health insurance can be a stressful time, especially if you have a pre-existing medical condition. If you’re living abroad, the decision of whether or not to sign up for ACA insurance can be even more confusing.

What is ACA Insurance?

The Affordable Care Act (ACA) is a health insurance law that was passed in 2010. The ACA requires most Americans to have health insurance, and it provides subsidies to help people afford coverage.

Do I Need ACA Insurance if I Live Abroad?

If you are a US citizen or legal resident living abroad, you are still required to have health insurance under the ACA. However, you may be eligible for an exemption if you meet certain criteria, such as:

You are a member of the military or a dependent of a member of the military
You are living abroad for more than 330 days per year
You are a citizen of another country and are not a US resident

If you do not meet any of the exemptions, you will need to sign up for ACA insurance. You can do this through the Health Insurance Marketplace or through a private insurer.

How Much Will ACA Insurance Cost?

The cost of ACA insurance will vary depending on your age, income, and location. However, you may be eligible for subsidies to help you afford coverage. The amount of the subsidy you receive will depend on your income and family size.

What Benefits Does ACA Insurance Provide?

ACA insurance provides a range of benefits, including:

Coverage for essential health benefits, such as doctor visits, hospital stays, and prescription drugs
Protection from high medical bills
Access to preventive care services

If you have a pre-existing medical condition, it is important to make sure that your ACA insurance plan covers the treatment you need.

How Do I Sign Up for ACA Insurance?

You can sign up for ACA insurance through the Health Insurance Marketplace or through a private insurer. If you are not sure how to sign up, you can call a licensed agent for help.

What Happens if I Don’t Sign Up for ACA Insurance?

If you do not sign up for ACA insurance, you will have to pay a penalty when you file your taxes. The penalty for 2023 is $750 per adult and $375 per child.

Conclusion

If you are a US citizen or legal resident living abroad, you should carefully consider whether or not you need ACA insurance. If you have a pre-existing medical condition, it is especially important to make sure that you have coverage. You can sign up for ACA insurance through the Health Insurance Marketplace or through a private insurer.