Late-Life Divorce: Solving the Healthcare Puzzle
Many times, a spouse can be dependent on the other’s health insurance for their healthcare needs. For example, perhaps the wife took out the insurance policy and the husband is on it or perhaps a working husband has insurance through a job and the wife also received benefits through her marital status. If someone finds themselves in a divorce later in life and relies on the other, this can be especially scary as health problems tend to creep up as we age. There are ways to prepare for what is to come and solve the late-life divorce health care puzzle, and we are here to help.
Planning for Your Health Care Should Be Immediate
Finding the best healthcare plan for you can take some time. You have to consider a wide variety of factors including price plans, coverage levels, deductibles, what kind of medical benefits you need, copays, PPOs, emergency room plans, waiting periods and more. There are so many insurance companies out there to look through, and analyzing and comparing all of them to find what fits you best can take time. That is why it is imperative that you start immediately upon knowing that you will be filing for a divorce, so you have ample time to prepare.
Understanding Individual Healthcare Plans
So, now that you know you have to start now, you may be wondering where to begin. To find the individual healthcare plan that fits your needs, you may want to consider an insurance agent, an insurance company directory, or look through purchasing groups such as a credit union or professional associate. A popular organization that can help older individuals with this grueling task is called the American Association of Retired Persons (AARP). They can help you prepare yourself, understand important terminology, and help you compare policies.
Some key terms that you may want to understand ahead of time include:
- Deductibles – this is an amount that you must cover out of pocket before an insurance policy will provide coverage or any expense reimbursement. Higher deductibles are often a sign of more afford plan costs.
- Coinsurance or Copay – this is the percentage of pay that is split between the policyholder and the insurance company. Plan costs are lower the lower the percentage is. For instance, an insurance company may offer 70% coverage and ask that you cover 30%.
- Covered Expense – these are expenses that are eligible for coverage under a certain health insurance policy. Certain policies will not cover certain medical needs such as plastic surgery, laser eye surgery, etc. What each health insurance company will deem as necessary and coverable changes company to company.
Also make sure to consider cancellation and renewal coverage. Certain private insurance companies will not allow a cancellation. This can be forced upon them in certain scenarios such as if they fail to pay premiums that they owe, do not disclose impertinent medical information, or eliminate benefits that they contractually promised to you.
Contact a Cherry Hill Family Law Attorney for a Consultation About Your Divorce in New Jersey Today
If you are thinking about filing for divorce, or if you have already started the divorce process and are dealing with another matter such as child custody, child support, or division of assets, you need to speak with a qualified attorney. The New Jersey family law attorney Lois Garber Schwartz, Esq. represents clients throughout the state, including Gloucester Township, Winslow, Voorhees, and Camden. We understand how challenging this time can be for you, which is why we will fight hard to protect your interests, and the interests of your loved ones, throughout the legal process. Call us at (856) 375-8989 or fill out our confidential contact form to schedule a consultation. We have an office conveniently located at 1040 Kings Hwy N #202, Cherry Hill, NJ 08034.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.