Obamacare and new PR parents!

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smile1

Registered Users (C)
Obamacare and new PR parents!
Hi all,
I need help to find information on how the new healthcare will affect our new PR parents. While my parents are with us right now, they will get their own apartment by next year( we will rent it or buy it for them ). Their income will be the interest from the CDs here and some back home in India,which will be tax payed in India before the interest is transferred here. Once they have their own address, do they qualify as a separate family with healthcare corresponding to their income group,OR since we signed I864, this does not apply to any parents of USC and the healthcare will be decided by sponsor's income?



Thanks all for any info!
 
Review the rules for who qualifies as a dependent, and have a consultation with a tax professional and/or visit a tax forum.

http://www.irs.gov/publications/p501/ar02.html#en_US_2012_publink1000220939

You probably will have to stop claiming them as dependents on your tax return if they are going to be counted as a separate household (without your income included) for income classification purposes. There may also be restrictions on the subsidies they can get as new LPRs.
 
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If you have signed I-864 for them, unless they become US citizen or get credited with 40 quarters of work (10 years), your income will be deemed to be theirs for all purposes, no matter where they live.
 
Thanks for the replies! I will consult a tax professional as there is so much confusion around this.
 
Hey smile1,
I would be interested in following your journey. This is a thorny subject and one that lot of new USCs don't realize until they start thinking about sponsoring their parents. In a way, the healthcare or it being too expensive to buy for someone who doesn't work a regular job becomes a show stopper in sponsoring them. Good luck in your quest and keep us posted. Thanks!
 
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