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What are the requirements on health insurance for EB-5 investors?

I understand that after Nov. 3, 2019, EB-5 investors must demonstrate to the consular officer at the time of interview that he or she will be covered by approved health insurance within 30 days of entry into the United States, or has the financial resources to pay for reasonably foreseeable medical costs. Are there basic requirements for approvable insurance coverage in terms of coverage amount and length? How much is "reasonably foreseeable medical costs"?

Answers

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    The basic requirement is to show that you can afford to buy a health insurance policy once in the U.S. It is in part based on the need to ensure an immigrant does not become a pubic charge. For example, you can demonstrate that you have enough funds in your bank account to buy insurance policy upon arrival in the U.S. There is no limit on the nature and amount of policy you need to buy. However, it may be a good idea to talk to an insurance agent perhaps through your attorney to ascertain how much policy is adequate.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    This has been enjoined by court order. It is not currently effective.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    No one is really sure, which is likely why this new requirement has been halted by a lawsuit.

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    Stephen Berman

    Immigration Attorney
    Answered on

    Since the rule has not yet taken effect, it is premature to hazard any guess, except that travelers insurance would probably suffice.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    There are no implementing guidelines issued for this provision as yet.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    The insurance policy should cover 364 days.