Even when your physical condition is exceptional, health insurance coverage remains paramount. One never knows when an accident or unexpected illness could wreak havoc.
Having a policy in good standing is especially important during a divorce. Consider how the experience may negatively impact your health. Maintaining insurance protection depends on your attention during this complicated time.
Reporting a divorce to your health insurance
Health insurance companies need to hear about the split. If you are a group plan member through your employer, a notification must happen within two months of the divorce decree date. An administrator will then pass this information on to the insurer. Report the change in status directly to your plan if it comes from the open marketplace.
Losing your health insurance
If your soon-to-be-ex is the primary insurance holder, search for new coverage. The sooner you start, the better. There are many options at your fingertips. Medicaid is one avenue worth exploring. COBRA is another common alternative.
Keep in mind that health insurance is a negotiable item during a divorce settlement. Verify that insurance administrators know your current address should there be a change.
Keeping an ex on your health insurance
In most instances, insurers forbid customers from maintaining coverage on a former spouse. That said, particular states allow this arrangement with legal separation or limited divorce. Investigate the laws in your region before deciding which path makes the most sense.
Dissolving a marriage directly impacts health insurance status. The good news is that, with research and timely action, it is possible to avoid risky lapses.