Quick Answers (FAQs)
I am a U.S. Crew Member working and living on a yacht registered outside the U.S. Do I have to have U.S. Health Insurance?
This is not a simple question to answer unfortunately and we would recommend speaking with one of our ACA experts to consider your individual circumstances.
The Affordable Care Act can affect all crew members, whether U.S. Citizens or not, depending on the amount of time spent in the U.S. There are many insurance options available to you that can cover you, even during your travels throughout the world. You could also choose to pay a penalty rather than purchase insurance. We can work with you to decide which is the best choice for you, and to ensure you are in compliance with all regulations.
I'm an individual living in the U.S. and I don't want to purchase health insurance. What are the penalties?
The penalties have had set increases each year since 2014.
The 2017 Penalty is $695 per adult and $347.50 per child (up to $2085 for a family) or 2.5% of family income, whichever is greater. In the future, the penalty will be adjusted for inflation. In most cases, it is more beneficial to purchase insurance than to pay the penalty.
What will happen if I don't offer insurance to my employees?
If an employer chooses not to cover employees, the penalty is a flat $2,000 per annum for each full-time employee excluding the first 30 employees. The penalty is billed monthly throughout the year.
Should I have a liability policy for my small business?
Yes! Liability policies can cover you for accidents and mishaps. It can also protect you from fraudulent claims and pay your legal fees should it come to that. The cost can be minimal, and could protect your business significantly.