Health Insurance and Your Divorce
Dealing with a divorce or separation is never easy.
Before the final papers are signed, take a look at how your health insurance needs will change and what updates need to be made.
Here are some things to keep in mind concerning your health insurance needs:
- You may be able to stay on your spouse’s plan for up to 36 months
- You may qualify for COBRA coverage from your spouse’s employer
- COBRA can be very costly – you may have to pay 100% of the monthly premiums
- Check out the insurance exchange policies that may be available to you
- This may be cheaper than COBRA and have better coverage
- If you need to find coverage thru your employer, divorce is considering a “qualifying event” which means you do not need to wait for open enrollment to sign up for your health care coverage.
- A few companies will allow you as the “out spouse” to stay on your ex’s insurance policy as long as the court order requires it. Only a few com[panies offer this option, but it’s always worth asking.
- You cannot remove your spouse from your health insurance policy before your divorce is finalized and the case closed
- To remove them, there must be a “qualifying event”, this is when the divorce is final and your marital status is terminated.
- You may qualify for COBRA coverage from your spouse’s employer
Divorce is challenging, but the changes that need to be made to your health insurance plans don’t have to be if you plan ahead.
Our team of experts can help you determine how your health insurance will change once your divorce is finalized.
The Collaborative Practice of San Diego is a nonprofit, multi-disciplinary referral network of independent professionals of attorneys, mental health professionals and financial advisors working together to learn, practice, and promote Collaborative processes for problem solving and the peaceful resolution of family law issues in regard to co-parenting, with an eye toward preserving the emotional, as well as the financial assets of the family, including health insurance coverage concerns.
Contact us today to see how we can help preserve your family unit while working thru your divorce process.
Note: This information is general in nature and should not be construed as legal/financial/tax/or medical advice. You should work with your attorney, financial, medical or tax professional to determine what will work best for your situation.
