Dealing with insurance is a common aspect of a
divorce that anyone can forget, and yet if we are in a car accident and don’t
have insurance we could not only be paying top dollar in car damages but
also medical damages, and that is not a good place to be in. While there
are not as many single income families in today’s society, there
are still a lot of one working parent households with the other spouse
who stays at home with the children. If this is the case, the parent staying
at home is dependent on their spouses insurance for coverage.
There may be some married couples that are both working, and yet one isn’t
eligible for their own coverage and so they rely on their spouse. So what
happens when there is a divorce? Should an individual be forced to have
no coverage while they hope to find a job or a better job that has good
benefits? Other couples may choose to try and stay ex-spouses plan for
coverage, and yet if the insurance company realizes that you are no longer
eligible for those benefits they can drop you at any time and consider
you and your ex responsible for insurance fraud.
Some benefits plans have options for temporary coverage while the other
spouse looks for their own plan after a divorce, though it depends on
the specific plans. If you are considering a divorce with your spouse,
here are a few things about insurance that would be helpful to know ahead
of time. Discuss these concerns with your divorce attorney; they will
be able to help you in the process of
dividing your assets, etc.
Health Insurance: In the event you and your spouse choose to divorce and you are dependent
on their insurance, the COBRA plan is available for spouses temporarily
for coverage. The downside to this is that you will be required to pay
the full price with COBRA, until you find your own benefit plan that is
less expensive. In 2014 when the Affordable Care Act is officially started,
there will be a lot more options for cheaper healthcare to those who have
gone through a divorce, though now there are still good deals that can
be found for those not covered by their employers. Another aspect of health
insurance that will have to be addressed is the issue of children, if
you and your spouse have kids you will need to determine which medical
coverage they will be under as well as deciding how to pay for it together.
Life Insurance: There are many details involved specifically with life insurance policies,
and many strict rules as to what it looks like to switch beneficiaries
in the event that a couple chooses to divorce. Some spouses may choose
to keep their ex as a beneficiary in the event that their kids need extra
support down the road. Keeping a spouse on your plan will cost more now,
but it will pay off in the long run if something were to happen to you
and the kids needed extra help financially. Life insurance plans tend
to run with the breadwinner of the home, and in if the couple choses to
stay on the same plan, the court will help determine payment plans on
behalf of the other spouse who will stay the beneficiary.
Car Insurance: At the time of your divorce, you and your spouse will have chosen who
gets which car. At that time then you will each be responsible for the
respective cars insurance. Alimony is a great way to receive help financially
when needing to make payments like this.
Home Insurance: Depending on the specific situation, a couple may choose to divorce and
have one spouse keep their original home. In the event that you and your
spouse have equally divided your assets, it is likely that you will be
able to apply for a lower home owner’s insurance payment. If you
are the spouse who has moved out and have chosen to rent an apartment
for example, applying for renters insurance is a wise idea as well, and
will cost you significantly less money.
As you can see, filing for divorce includes many different facets, and
with the help of a skilled divorce attorney they can be sorted through
with ease. Filing for a divorce may be overwhelming for some, and that
is why an attorney is so helpful, having someone who understands the laws
pertaining to your specific state as well as experience with divorce law
can make the process a little easier on you. For a family law attorney
who can help you in the Florida area,
contact Hutchinson Law today!