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I need help to answer the following question: Can I qualify…

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I need help to answer the following question: Can I qualify my foreign health insurance as Minimum Standard Coverage as required by the Affordable Care Act? And if so, how do I do that?

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Is that sufficient detail?

Submitted: 10 months ago.Category: Tax
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Customer reply replied 10 months ago
The objective here is to avoid the penalty under the ACA.
Answered in 7 minutes by:
9/22/2017
Tax Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 10 months ago
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,763
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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Welcome to JustAnswer! Hello my name is***** ® professional and I will be able to assist you today.

I have linked to the Health insurance market place Foreign Insurance Coverage Fast Facts sheet.

https://marketplace.cms.gov/technical-assistance-resources/foreign-insurance-coverage.pdf

In general, foreign health coverage (except for coverage through a self-funded foreign group health plan and, under some circumstances, coverage through an insured foreign group health plan) is not currently considered minimum essential health coverage MEC.

"Health coverage provided by foreign governments or foreign insurance companies can vary and may not cover health care costs incurred by individuals who are lawfully present in the U.S. since providers in the U.S. may not accept such coverage. "

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 10 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
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Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello

You requested a different person.

Were you outside the US yourself for the tax year?

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Customer reply replied 10 months ago
Here is the full context:
I moved to the US in 2016. My wife followed in early 2017.
I am locally ensured. However, my wife maintained her foreign (Brazil) health insurance which covers emergency situations in the US.
Now, we did not know about the ACA and the penalties that it imposes if you are uninsured.
I am looking for a creative way to argue that either (a) her foreign insurance counts as Min Essential Coverage or (b) we can argue for an exception due to her recent move in 2017 or (c) find any other creative solution.
Please, let me know if there is something that can be done to avoid the penalty.
Thanks in advance.
Tax Professional: Robin D., Senior Tax Advisor 4 replied 10 months ago

A Nonresident Spouse Treated as a Resident for tax purposes (meaning you file a joint return) will still be required to get health coverage or pay a fee. A foreign coverage situation is not Min Essential Coverage under Obama Care.

For 2017 the months she was not in the US would be exempt from coverage. You claim or report coverage exemptions on Form 8965, Health Coverage Exemptions, and file it with your Form 1040. For the time after her arrival and if you are filing joint then you cannot claim the foreign coverage as the law stands now.

A positive rating is appreciated for my responding since you did request a different person.

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