Expat Investment Account / Health Insurance Planning

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Topic Author
lawman3966
Posts: 1148
Joined: Sun Aug 10, 2008 12:09 pm
Location: Tacoma WA

Expat Investment Account / Health Insurance Planning

Post by lawman3966 » Tue Aug 13, 2019 9:35 am

I am preparing a plan for positioning my assets for an overseas retirement. I understand that some U.S. citizens work to maintain the appearance of U.S. residency even while physically residing overseas for the purposes of having their relations with financial institutions, health insurance companies, among other entities undisturbed by an overseas move. However, for the purpose of the following, I am assuming that I will be legally considered to be residing outside the U.S.

I expect to transfer my my 401K, solo 401K, and TIRA accounts to my Thrift Savings Plan (TSP) account (I don't have a TSP Roth account).

For Non-retirement assets, and my Roth IRA, I expect to transfer both my securities (mutual funds, ETFs, stocks, etc) to Schwab, for eventual placement in an International investment account. I would expect to conduct a parallel transfer of checking account assets to a Schwab international bank account.

Regarding Health insurance, I expect to maintain enrollment in Original Medicare so that it is available to me upon return to the U.S., even though it will not cover treatment overseas (the Philippines). My understanding is that I cannot maintain enrollment in Medicare Advantage (MA) while overseas, but that upon return I can re-enroll and start participating again starting with the month following the re-enrollment application.

That's the plan so far. Comments, suggestions, and constructive criticism welcome.

typical.investor
Posts: 967
Joined: Mon Jun 11, 2018 3:17 am

Re: Expat Investment Account / Health Insurance Planning

Post by typical.investor » Tue Aug 13, 2019 9:40 am

I don’t think there is a Schwab International bank account.

I have check writing on my Schwab International Brokerage account, but it’s not a bank with bill pay and such.

About Medicare, don’t you have to pay part B premiums when you reach eligibility or face a penalty should you try to resume it later. Is that what you meant by Original?

Topic Author
lawman3966
Posts: 1148
Joined: Sun Aug 10, 2008 12:09 pm
Location: Tacoma WA

Re: Expat Investment Account / Health Insurance Planning

Post by lawman3966 » Tue Aug 13, 2019 11:12 am

typical.investor wrote:
Tue Aug 13, 2019 9:40 am
I don’t think there is a Schwab International bank account.

I have check writing on my Schwab International Brokerage account, but it’s not a bank with bill pay and such.

About Medicare, don’t you have to pay part B premiums when you reach eligibility or face a penalty should you try to resume it later. Is that what you meant by Original?
Thanks for the information about Schwab banking. Do you have another resource for bill pay and other common banking services?

I menat to include both Parts A and B in the term Original Medicare. Additions to Original Medicare would refer to Medicare Advantage or Medigap plans.

typical.investor
Posts: 967
Joined: Mon Jun 11, 2018 3:17 am

Re: Expat Investment Account / Health Insurance Planning

Post by typical.investor » Tue Aug 13, 2019 11:24 am

lawman3966 wrote:
Tue Aug 13, 2019 11:12 am
typical.investor wrote:
Tue Aug 13, 2019 9:40 am
I don’t think there is a Schwab International bank account.

I have check writing on my Schwab International Brokerage account, but it’s not a bank with bill pay and such.

About Medicare, don’t you have to pay part B premiums when you reach eligibility or face a penalty should you try to resume it later. Is that what you meant by Original?
Thanks for the information about Schwab banking. Do you have another resource for bill pay and other common banking services?

I menat to include both Parts A and B in the term Original Medicare. Additions to Original Medicare would refer to Medicare Advantage or Medigap plans.
Yes, I kept my Wells Fargo account open. Address is my childhood home where my brother lives now.

I heard the State Department Credit Union accepts expats. Not sure what services they have.

I’ve found a US credit card is helpful too. I prefer to use my overseas one, but some sites don’t have their forms set up to accept foreign address or the charge mysteriously fails. Even at DisneyWorld, I couldn’t get their food reservation app to accept my foreign card. Weird thing was, I registered my US card to make reservations but ultimately paid with magic band that charged my foreign card. It wasn’t my entering wrong info either, I am sure of that.

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