Divorce and Health Insurance

During divorce health insurance is one of the most important things to consider. Considerable amount of health coverage is vital especially when there are children involved. During a divorce health insurance benefits for the couple becomes much less. After divorce if your husband has health insurance coverage, he would not be able to cover you. The dependent spouse would loose her/his insurance coverage after divorce.

Dealing with health insurance and divorce-

Before or after divorce you would still have to remain concerned about your health and the health of the children. You should always have with you life insurance and health policies with you.

Get health coverage-

Ensure you get health coverage from your employer. You should have coverage on dental and overall health issues. If you are unemployed it would be wise to get health insurance covered as a part of the divorce settlement. You should ensure that your legal attorney knows about the health insurance benefits especially if you have children.

COBRA coverage-

The dependent spouse in cases of divorce can obtain COBRA. COBRA is referred to as a federal law, according to which it mandates that an individual is covered under a health insurance policy and would be entitled with the right to continue with the same health coverage. The coverage would be entitled at her/her own cost, for stipulated time duration.

With COBRA coverage, your employer would have to provide you with COBRA coverage after your divorce is through with your ex-husband. It would be required by COBRA that you retain the same health insurance policy, but your coverage would no longer be family, it would be converted to individual coverage. It would be essential to pay the employers cost for the individual policy.

Advantage of COBRA coverage-

COBRA coverage enables a divorced spouse to maintain her health insurance policy that the former spouse earlier provided. The COBRA coverage is known to last for 36 months. After the time duration of 36 month expires, the divorced spouse should obtain their own health insurance benefits. The COBRA coverage in some cases can be extended for a supplementary 18 months time duration.

Types of health insurance policies-

Employer –provided medical insurance: The most suited source of medical insurance is the one provided by your employer. The cost of the insurance is subsidised with the help of the employer. Employer based plans are available in four types which are- service provider plans, preferred provider plans, health maintenance organizations and indemnity plans.

Individual medical insurance: One can obtain individual medical insurance directly from insurance companies. With this policy, you can get the type of benefits you desire. Individual medical insurance entails you to pay the entire cost of the policy premiums.

Medicare: With Medicare one can receive basic hospitalization benefits for over 65 years of age, which comes under Part A coverage. Under part B coverage there is a voluntary program which provides coverage for doctor bills at monthly cost which would be incurred by you.

One should always remember that health insurance is very important under all circumstances.