US Citizen - Foreign Travel

[somarco]

US citizen travels outside the country 9 - 10 months a year. Has international travel plan and wants STM for the time he is home.

Intnl plan is non-compliant.

Is he subject to penalty?

 

[taterpeeler]

yes,,,, and no........

 

[Yagents]

Penalty if uninsured in states for more than 2 months.
Penalty is pro-rated for the 3 months.
May have to show proof of being out of country for other months (I assume)

Texas is considered to be out of the country

 

[AllenChicago]

This might clarify?

Is he subject to penalty?

"Exemption for Gaps in Coverage

Though the penalty applies for any month an individual does not have coverage, there is an exemption available for those whose coverage gap is less than three consecutive months. This exemption is only allowed once a calendar year so if the exemption is used in the early part of the year, it cannot be used again in the latter part.

If there is a second gap in coverage during the calendar year, a separate "hardship exemption" can be requested. "Hardship" exemptions include a number of specific situations including a death of a family member or bankruptcy filings; however, most all of them require some form of documentation. Hardship exemptions are filed separately from the annual tax return unlike the regular exemptions.

Since the ACA regulations incorporate a one day = one month convention, a traveler could have almost 5 months of coverage gaps and still qualify for the exemption, so long as the coverage ended sometime during Month 1 and coverage with a new policy began in Month 5."

Source: ACA Implications for Travelers (aka "ObamaCare")

Since the Supreme Court says the IRS can't enforce the Penalty-Tax, it's probably easier to ignore it, or to avoid all the BS paperwork, and simply pay it.

 

[Yagents]

Kind of hard with only 1st of moth effective dates to get more than 2 months

 

[taterpeeler]

Penalty if uninsured in states for more than 2 months.
Penalty is pro-rated for the 3 months.
May have to show proof of being out of country for other months (I assume)

Texas is considered to be out of the country

i already answered this but thanks for trying to be a smarty pants

 

[Yagents]

i already answered this but thanks for trying to be a smarty pants

Not really but kinda

 

[Yagents]

Anyone else take issue with John Kerry, who is in charge of negotiating world peace, taking a risk by bicycling overseas and breaking his femur bone?

Who knew the femur bone was connected to the nuclear bomb?

We may be paying for it with more than just money.

 

[yorkriver1]

Anyone else take issue with John Kerry, who is in charge of negotiating world peace, taking a risk by bicycling overseas and breaking his femur bone?

Who knew the femur bone was connected to the nuclear bomb?

We may be paying for it with more than just money.

https://www.youtube.com/watch?v=wcW_Ygs6hm0

 

[tonyisme]

Remember its not called a penalty...its now called a "fee"

Soon it will be called f#!$@ n fee