Divorce and Health Care Coverage
It is important to know that your spouse will be unable to maintain your health coverage after you divorce. If your spouse works for a company with more than 20 employees, you will be eligible for continuing coverage under COBRA for up to 36 months. However, you must begin the process of applying for COBRA through your spouse’s employer within 60 days of your divorce. Under COBRA, you will be responsible for the entire cost of your health coverage, so you may find that a more affordable option is available to you through another source.
Divorce and Life Insurance Coverage
Just because you are divorcing doesn’t mean the death of your former spouse could not have a catastrophic effect on your finances. Especially if you have children, or if you will be dependent on spousal support payments, Cathy will recommend you have life insurance on your spouse. There are a variety of types of plans, and different ways to work out who pays for coverage. Cathy will help you put a plan in place to protect you financially in the event something happens to your former spouse.