Bringing Your Parents from Korea: Health Insurance, Medicare, and Taxes for the Family (Paperback) (ISBN-13: 9798177468280)

Your parents are getting older, and they are a twelve-hour flight away. You are a U.S. citizen now, and you can sponsor them for green cards. Before you file, you should know what the next five years will cost.

A green card does not come with health insurance. Medicare generally requires five years of residence, and marketplace subsidies for recent immigrants with little income changed in 2026, with more changes in 2027. California's Medi-Cal rules shifted too, and not in the way most families assume. Meanwhile you sign an affidavit of support that can follow you for a decade, your parents file their first U.S. tax returns with Korean pensions and bank accounts, and the family has to decide who pays for what.

Written by a Los Angeles CPA who works with Korean-American families, this plain-English guide covers:

• What the affidavit of support (Form I-864) promises, and when the promise ends
• Health insurance for the first five years: marketplace plans, visitor coverage, and the 2026 California changes
• When and how your parents qualify for Medicare, and whether their years in Korea can help
• What happens to Korean National Pension, basic pension, and Korean health insurance after the move
• Claiming your parents as dependents, head of household status, and the medical expense deduction
• Splitting support among siblings with a multiple support agreement
• Your parents' first U.S. tax return: Korean pension income, Korean accounts, and FBAR
• Moving money between generations without surprise gift reporting
• Getting paid to care for a parent at home through IHSS, and why that pay is often tax-free
• Citizenship, returning to Korea, and planning for the long run

Part of the Korean-American Money & Tax Guides series.