Because countless things seem more pressing during the divorce process, many spouses don't think about health insurance. However, it should be a priority. In many marriages, it's common for one spouse to maintain health insurance for the entire family, while the other spouse works in the home or for an employer that does not offer healthcare benefits. Those dependent on a spouse for insurance may not be covered by that policy once the divorce is final. Because of this, it's important to discuss health insurance during the divorce proceedings, especially if there are children involved.
Some arrangements may be worked into the divorce decree. For example, if the employed spouse is a non-custodial parent, he or she will be required to continue carrying any children on his or her healthcare plan. However, if the two spouses can't reach an agreement on anything else, the soon-to-be uninsured spouse will have to find other options. One consideration is COBRA.
COBRA stands for Consolidated Omnibus Budget Reconciliation Act. If you are insured through your spouse's employer-sponsored healthcare plan, COBRA gives you the option to maintain that coverage for a limited time after the divorce. However, you will be responsible for paying the premium. You must also apply for this coverage within 60 days of your divorce or you will no longer qualify. Despite the cost, COBRA will prevent any lapse in coverage while you search for a suitable replacement.
There are different options that could best suit your family's needs. To begin with, you may be employed by a business that offers a healthcare plan that you opted out of in order to use your spouse's family plan. Having a divorce decree provides you with the opportunity to enroll in that plan without having to wait for the next enrollment window.
Independent coverage is flexible and can be tailored to meet the needs of all types of families. It can take time to find just the right company that will work with you and can offer policies that fit your budget. Healthcare Insurance Marketplaces offer a range of affordable coverage options for you to choose from. You may even qualify for subsidies and other financial assistance in order to make getting health insurance more affordable by using the Healthcare Marketplace option.
Health insurance can easily get lost in the shuffle during a divorce, but it should be one of the most important items on your list of issues to deal with, especially if you have children. If possible, talk to your spouse calmly during the divorce and try to come to some agreement. It could make things easier for everyone and prevent any periods with lapses in coverage.