You have a lot of life changes to navigate during divorce. One major consideration is ensuring you continue having health coverage after your split.
Learn more about your post-divorce health insurance options. During this chapter of your life, you must take proper care of your physical, mental and emotional health.
State continuation insurance
You could qualify for New Jersey’s healthcare continuation coverage, known as “mini-COBRA.” With this option, you have three months of health insurance. Know that laws regarding state continuation coverage were initially intended for small companies with fewer than 20 employees. That said, variances apply to administrative premium charges, larger employers and total time included. For instance, if your spouse works for a large company that handled its own health coverage, it may not have to offer spousal continuation insurance.
COBRA
1985’s Consolidated Omnibus Budget Reconciliation Act allows divorced spouses to continue receiving medical coverage. That means you can remain on your former spouse’s employer’s health insurance for as many as three years. You must pay the premiums, prescription costs, deductibles and out-of-pocket costs. If you apply for COBRA, do so as quickly as possible, so you do not miss out on continuing your coverage.
Individual Health Insurance
You can also purchase your own policy through a broker, an insurance carrier or the government exchange. Option tiers include Bronze, Silver, Gold and Platinum, with Bronze offering the least expensive premiums at the lowest price. If this sounds like the proper option, note the next open enrollment period, or special enrollment period, which is 60 days after you finalize your divorce.
Secure health insurance so you have one less thing to worry about during your marital split. Now is the time to tend to all aspects of your well-being.