Some delaying divorce due to health care uncertainty

On Behalf of | Aug 3, 2017 | Divorce

Getting divorced in Mount Holly comes with a number of decisions that need to be made, many of which are financial. Spouses often share many things, including bank accounts, mortgages and insurance policies. However, according to the Huffington Post, health insurance companies do not usually allow a person to remain on their spouse’s policy once the couple is separated. The spouse who is not the policy holder then must seek out his or her own policy or opt for COBRA coverage.

The issue of health care is a hotly debated topic across the country right now. Republican lawmakers have been working to repeal and replace the Affordable Care Act, reports TIME Magazine. While those efforts have not yet come to fruition, the issue has many people thinking about what their options may be post-divorce.

The cost of health care is something that is often considered when negotiating a divorce settlement. Those who are undergoing a divorce may now want to consider increasing the amount allotted for this purpose. Since many of the individual policies currently offered, and those likely to be offered in the future, are high-deductible plans, that cost should be considered as well as the cost of monthly premiums.

Also up in the air, is who will be eligible for an individual plan if a health care overhaul is successful. The ACA provides protections for those with pre-existing conditions. An ex-spouse seeking coverage on their own may find difficulty under new legislation if he or she has certain health conditions. Therefore, divorcing spouses may wish to look at this issue very closely. Some may wish to hold off on finalizing divorce proceedings until things are clearer, or enter into a post-nuptial agreement that take this important issue into consideration.