Preparing for various lifestyle changes is essential when you decide to end your marriage. However, you can lessen the disruption to some areas of your life by considering the practical ramifications of your Arkansas divorce.
Health insurance is one of the areas that you should address promptly to avoid potential care interruptions.
Will You Lose Your Health Insurance?
Individuals who obtain health insurance through the employers of the spouses they are divorcing will lose that coverage in a divorce. However, the children a divorcing couple shares may continue their employer-sponsored coverage.
What Are The Health Insurance Options After Divorce?
Spouses who expect to lose their health insurance can opt for COBRA, which allows them to continue the same coverage for 18 to 36 months if they pay the entire premium cost, including the employer’s share. This option can ensure a continuation of benefits but is costly.
Spouses who can not afford to pay for COBRA may also seek insurance from their employers or, if that is impossible, they may find new coverage through the private marketplace or the state’s healthcare exchange. They may qualify for special enrollment due to their divorce for affordable options that ensure eligibility even if they have a pre-existing condition.
Finally, anyone concerned about paying for health insurance can negotiate to have their ex-spouse pay for mutually agreeable coverage as part of a divorce settlement. Alternatively, the spouse who needs coverage may calculate and request a higher support rate to help meet healthcare expenses.
Divorce can be emotionally challenging, but it is essential to consider its practical ramifications to protect your financial future.