Even those who want a divorce understand how difficult it can be to go through the process of it. Not only is there divvying up assets but there is also health insurance to consider.
Finding the right health insurance after divorce is tricky, but it doesn’t have to be anxiety-inducing.
With this guide, you can explore your options for coverage options after your divorce settlement. Hopefully, you can find the best coverage for you.
Keep reading to learn more.
After Sharing Health Insurance
Did you and your ex-partner share health insurance before you decided to get a divorce? Will you lose coverage once the divorce settlement is final?
It depends on how divorce operates in certain states.
If you have a legal separation from your ex-partner and the state considers this to be the same as divorce, you may have already lost your coverage. However, many states won’t let your ex-partner kick you off their insurance until a divorce is finalized.
Research for your own state to understand the coverage policy under your ex-partner’s health insurance. Until a divorce is finalized, they may have to keep you on.
Your Options for Health Insurance After Divorce
There are a few different options you can explore for health insurance after divorce. Here are three coverage options you can consider.
Insurance Through Your Employer
If you work full-time or have a really nice employer who offers health insurance regardless, jump on that plan!
Make sure you have a clear line of communication between you and your employer about your health insurance situation. In some cases, you may have to increase your hours in order to qualify. In other cases, it may take some time still for the insurance to kick in.
Thank You to the Affordable Care Act
President Obama did a solid for U.S. citizens when he pushed for the Affordable Care Act. Thanks to those efforts, now you can get a coverage policy through the government itself.
Also known as “Obamacare,” you can peruse the website to find health insurance through the federal government or your individual state as well.
Not eligible during the regular enrollment period? Don’t worry! For 60 days following your finalized divorce, you can opt into a Special Enrollment Period that ensures you will get covered.
Go Through COBRA
COBRA is one of the fantastic coverage options post-divorce. You can sometimes be covered by COBRA for up to 36 months, though this differs based on your personal situation.
Like Obamacare, you have 60 days after your divorce is finalized to sign up for COBRA. How much does COBRA insurance cost, though? It depends, so make sure you do your research.
Exploring Your Coverage Options After Divorce
Finding the best healthcare coverage options after divorce can be stressful. No one wants to go without health insurance.
However, now you have three options to choose from to find the best coverage after a finalized divorce settlement.
For more articles on other topics, check out the rest of our website!
