One of the most commonly overlooked aspects of divorce is health insurance and how both spouses will be covered following the divorce. Most couples rely on one spouse's insurance plan, usually an employer-provided plan, for coverage of both individuals, as well as the children.
A divorce can disrupt coverage and create risky gaps, if not handled correctly. Don't gamble with your health and how you will be covered, should an accident or illness occur.
Understand COBRA - COBRA (Consolidated Omnibus Budget Reconcilliation Act) is a federal law that requires health insurance to extend for a set period of time after the individual goes off the plan. This includes situations of divorce. You must give the insurance companies 60 days notice, however, before the divorce is finalized.
COBRA only extends for 36 months and is far more costly than most insurance plans. If your employer offers insurance, it is likely far less expensive in premiums. Make sure that you are proactive in shopping insurance plans and finding the right plan.
Make sure your children are covered - Work with your attorney to make sure your children have health insurance coverage with no gaps throughout the divorce process and after it has been finalized. Evaluate your spouse's insurance plan and any new insurance plans you are looking at to determine who can provide the best coverage for the children.
A skilled family law and divorce attorney attorney can help you understand all of your options for health insurance during and following the divorce. Equip yourself with the answers and information you need to make the best possible decisions for yourself and your children.
Sergi & Associates is trusted by clients throughout the San Marcos area. They have the answers and resources you need to protect your future and set you on a sound path for the next chapter of your life.