Divorce can be one of the most difficult and emotionally trying decisions a person may have to make, but it can also have a major impact on various areas of your life—from your financial life to your retirement plans to your health insurance coverage. If you access health care coverage primarily through your spouse’s health care plan, a divorce could impact your access to this coverage. However, if you get your health care coverage independently through work, purchase your own plan, or have access to Medicare or Medicaid, divorce may not impact your ability to continue with your current health insurance coverage, or you may be able to switch to an alternative health insurance plan that may be already available to you, independent of your spouse. Some couples may even plan to include health insurance coverage as part of their divorce settlement, especially if one partner has access to good health insurance coverage. If you have children, another big question that may need to be asked is “how will the children be covered?” and “which parent will be responsible for paying for coverage or including children under their health insurance plan?”
If you have a serious medical condition or if your children have a chronic medical condition, the prospect of losing or having to change your health insurance coverage with divorce can be stressful. However, you may have a range of options when it comes to navigating this particular challenge during your divorce. The Aikin Family Law Group are divorce lawyers in Orlando, Florida who can help you navigate some of the toughest questions that can arise during divorce. From helping you navigate the divorce process to working out a divorce settlement that can work for you and your family, the Aikin Family Law Group is here for you. Reach out to us today to learn more.
Should Health Insurance Coverage Be Included in Your Divorce Settlement?
If you or your partner might lose access to health insurance coverage, health coverage could potentially be included as part of your divorce settlement. When negotiating a divorce settlement, there are various items of value that a divorcing couple will need to consider in the settlement. For example, after differentiating between marital and separate property, couples will need to decide how they’ll divide marital property. Assets, including bank accounts, real estate, investments, and retirement accounts will need to be considered. In some cases, alimony may need to be factored into the settlement amount. Finally, health insurance coverage, if one partner has access to good coverage, might also be considered as part of the settlement negotiation.
There may be other options available if you will lose coverage after your divorce. For example, if your partner gets health insurance coverage through work, and you stand to lose coverage because you are getting divorced, you may be able to pay to continue your coverage through a program known as COBRA. According to WebMD a person opting into COBRA will need to pay all premiums themselves without contribution from the employer, so these plans can sometimes be costly. However, if you need interim coverage while you figure out the next steps, COBRA could potentially cover you for up to 36 months after you lose coverage. You may only have 60 days from the date of coverage to opt into COBRA.
If COBRA isn’t an option or is too costly, there might be still other options available to you. Other options can include plans in the health insurance marketplace (a change of circumstance, like divorce, could allow you to purchase a new plan), Medicaid, or Medicare. Determining the options available to you and your children following a divorce might be difficult, but with good planning, you should be able to find an option that works for you and your family. Health insurance coverage is just one of the many factors that need to be considered when filing for divorce. The Aikin Family Law Group are divorce lawyers in Orlando, Florida who may be able to assist you with navigating the divorce process, and with the various ways that divorce can impact your life.
Worried About How Divorce Will Impact Your Health Care Coverage in Orlando, Florida?
If you have a chronic health condition or children with a serious health condition and are thinking about getting divorced, your health insurance coverage might be one of the prime concerns you might have as you move forward with your divorce. Divorce can potentially change your health insurance coverage, especially if you get coverage through your spouse’s work. However, there may be a range of options available to you. The Aikin Family Law Group are divorce attorneys in Orlando, Florida who can review your situation, help you understand your options, and assist you with reaching the best possible divorce settlement for you and your family. Reach out to our attorneys directly, or contact USAttorneys.com to get connected with the divorce lawyers at the Aikin Family Law Group today.