Hello All,
For the USCs living in India, one more thing to consider now with the new Health Care bill passed in the US.... It seems that buying Health Insurance is going to be complusory for everyone. Otherwise, there will be a penalty. Just trying to find out if USCs living abroad are exempt from it.
Any ideas?
New Health Care bill passed - implications for USCs living in India
New Health Care bill passed - implications for USCs living in India
kls:
I haven't read the full bill, but based on the hint given in this post, there is some mandatory coverage needs.. particularly for under 26 dependents.
http://www.r2iclubforums.com/forums/showthread.php/13256-Obama-s-Health-Care-Reform?p=271586#post271586
Also, after a brief review of the full proposal it does sound like there is some expense if you go uninsured - Source: http://static1.firedoglake.com/30/files/2010/02/summary-presidents-proposal.pdf
[QUOTE]The President’s Proposal adopts the Senate approach but lowers the flat dollar assessments, and raises the percent of income assessment that individuals pay if they choose not to become insured. Specifically, it lowers the flat dollar amounts from $495 to $325 in 2015 and $750 to $695 in 2016. Subsequent years are indexed to $695 rather than $750, so the flat dollar amounts in later years are lower than the Senate bill as well. The President’s Proposal raises the percent of income that is an alternative payment amount from 0.5 to 1.0% in 2014, 1.0 to 2.0% in 2015, and 2.0 to 2.5% for 2016 and subsequent years – the same percent of income as in the House bill, which makes the assessment more progressive. For ease of administration, the President’s Proposal changes the payment exemption from the Senate policy (individuals with income below the poverty threshold) to individuals with income below the tax filing threshold (the House policy). In other words, a married couple with income below $18,700 will not have to pay the assessment. The President’s Proposal also adopts the Senate’s “hardship” exemption.
Need interpretation from experts, but it does sound like a minimum of 0.5% of a USC's income will have to get to the system. This may go up to 2.5% in 6 years from now.
If that's the case, it is going to be expensive for USCs in India. Time to read the small print about exceptions.
I haven't read the full bill, but based on the hint given in this post, there is some mandatory coverage needs.. particularly for under 26 dependents.
http://www.r2iclubforums.com/forums/showthread.php/13256-Obama-s-Health-Care-Reform?p=271586#post271586
Also, after a brief review of the full proposal it does sound like there is some expense if you go uninsured - Source: http://static1.firedoglake.com/30/files/2010/02/summary-presidents-proposal.pdf
[QUOTE]The President’s Proposal adopts the Senate approach but lowers the flat dollar assessments, and raises the percent of income assessment that individuals pay if they choose not to become insured. Specifically, it lowers the flat dollar amounts from $495 to $325 in 2015 and $750 to $695 in 2016. Subsequent years are indexed to $695 rather than $750, so the flat dollar amounts in later years are lower than the Senate bill as well. The President’s Proposal raises the percent of income that is an alternative payment amount from 0.5 to 1.0% in 2014, 1.0 to 2.0% in 2015, and 2.0 to 2.5% for 2016 and subsequent years – the same percent of income as in the House bill, which makes the assessment more progressive. For ease of administration, the President’s Proposal changes the payment exemption from the Senate policy (individuals with income below the poverty threshold) to individuals with income below the tax filing threshold (the House policy). In other words, a married couple with income below $18,700 will not have to pay the assessment. The President’s Proposal also adopts the Senate’s “hardship” exemption.
Need interpretation from experts, but it does sound like a minimum of 0.5% of a USC's income will have to get to the system. This may go up to 2.5% in 6 years from now.
If that's the case, it is going to be expensive for USCs in India. Time to read the small print about exceptions.
New Health Care bill passed - implications for USCs living in India
Here is a link that says citizens abroad are exempted.
New Health Care bill passed - implications for USCs living in India
info from Suba's link for the lazy
According to Tom Rose, chairman of the Association of Americans Resident Overseas‘ Committee on Social Security and Medicare, the legislation doesn’t have any effect on Americans abroad, except that it exempts them from the penalty for not subscribing to health insurance in the United States. “That is only logical as most Americans abroad have coverage in their country of residence,” Mr. Rose said.
Similarly, the Web site of the American Citizens Abroad organization pointed out that, as of January, neither the House nor Senate bill would tax Americans abroad for not having insurance in the United States, and both “specifically exclude overseas Americans from proposed mandatory U.S. health insurance coverage.”
According to Tom Rose, chairman of the Association of Americans Resident Overseas‘ Committee on Social Security and Medicare, the legislation doesn’t have any effect on Americans abroad, except that it exempts them from the penalty for not subscribing to health insurance in the United States. “That is only logical as most Americans abroad have coverage in their country of residence,” Mr. Rose said.
Similarly, the Web site of the American Citizens Abroad organization pointed out that, as of January, neither the House nor Senate bill would tax Americans abroad for not having insurance in the United States, and both “specifically exclude overseas Americans from proposed mandatory U.S. health insurance coverage.”