Expats live abroad for various reasons. Some are digital nomads who can work remotely. Others are retirees with a desire to see the world in their golden years. And although there are always inherent risks in leaving your home country and living abroad as an expatriate, you can mitigate many of those risks with the best expat health insurance. But how does expat health insurance work? Here are the basics.
What is Expat Health Insurance?
Expat health insurance is major medical insurance for people who primarily live outside their home country. It can be an excellent choice for expats, retirees, or workers outside the USA who are unable to get sufficient health insurance coverage through another means such as an employer.
Who Can Purchase Expatriate Insurance?
Anyone who primarily lives outside their home country is eligible to purchase expat insurance up to age 74. Those who enroll in health insurance for expats by age 64 can renew coverage to a higher age than 74.
Does Expat Insurance Need to Be ACA Compliant?
None of the expatriate health insurance plans we offer are Patient Protection and Affordable Care Act (also known as PPACA, ACA, or Obamacare) compliant. Fortunately, this is not an issue for many expats. Any US citizen who lives outside the United States for at least 330 days per year is exempt for maintaining ACA compliant health insurance coverage. If you live abroad more than three months per year but less than 330 days, you may incur a state tax penalty for not maintaining ACA health coverage.
Can I Buy Health Insurance in My Country of Residence Instead of Expat Insurance?
This may be possible depending on your country of residence and their laws about foreigners purchasing health insurance. However, local health insurance often will have far lower coverage limits, and it will lack the portability of expat health insurance. If you’re living in one country during the summer and decide to move to another country in the winter months, you’ll lose insurance coverage from the first country. Expat health insurance can cover you anywhere in the world outside of your home country.
What’s the Best Way to Buy Expat Health Insurance?
We recommend an insurance comparison website like Insubuy. You can get instant quotes for expat insurance, compare plans side by side, and purchase online in minutes. Insubuy is the best place to purchase expatriate health insurance. Compare plans and get quotes today!