Make Sure You Have Health Insurance After Divorce

A divorce can be a traumatic experience and losing health insurance can be drastic on someone who falls ill at this time.

When you go through with a divorce it can be very distressing for both you and your family. This along with an emotional upheaval affects your finances too. Usually the divorce proceedings are very expensive and now, you may have to manage live on a reduced income.

The one important factor which we usually overlook during a divorce is health insurance. Most spouses have health insurance through their spouse’s employer. This will obviously stop after the divorce. Children, however, will remain covered.

Divorce: Pros and Cons
Divorce can be traumatic for children and create a sense of insecurity amongst them. Couples should realize that joined parenting is important even after divorce.

The options to get health insurance after a divorce are many. COBRA is a popular option and there is private health insurance for those who want it. You may qualify for the employer sponsored health insurance, according to your job offer. When the company you work in does not have a health insurance plan you can always apply for COBRA, which will allow you to continue your current coverage. Though, under COBRA health insurance can be utilized only for 36 months, so it is a temporary feature, plus it can be very expensive with you being responsible for paying the full premium. When you decide to apply for COBRA you should let your current health insurance plan administrator know in advance – within 60 days. Failure can result in insurance fraud.

There are many plans you can choose from the health insurance marketplace, after The Affordable Care Act .Take the advice of a family lawyer or your divorce lawyer for the best options.

References:

Risk of Obesity Higher in Kids With Divorced Parents
Researchers in Norway revealed that the risk of children being overweight or obese was higher if their parents were divorced.

Hannah Punitha (IRDA Licence Number: 2710062)

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Illness of Wife Among Older Married Couples may Raise Risk of Divorce
The serious illness of wife among the older married couples raises the risk of divorce as revealed in a new study.

Source-Medindia

New Algorithm may Help Divorced Couples Share Their Kids
A researcher has discovered an algorithm that helps make life easy for divorced couples when it comes to sharing their kids.