Perhaps you are considering a divorce in the State of New Jersey, or perhaps you are already divorced and paying alimony or child support. No matter what your situation may be, a divorce can significantly affect all of your benefits. Find out about obtaining or terminating benefits after divorce, including:
- Health insurance
- Life insurance
- Social security benefits
- And more
Obtaining Health Insurance after Divorce
Health Insurance – divorce can have a significant impact on your health insurance coverage. In general, there are four options a divorced spouse can pursue in order to maintain his or her health insurance after divorce:
- Continuing coverage on an ex-spouse’s policy—by applying for COBRA, you may be able to continue your health insurance coverage after divorce for up to 36 months. This option can increase your current monthly premium payments, however.
- Obtain coverage through an employer—if you are working and your employer offers a health insurance program; this may be the most beneficial to you and your family.
- Make health insurance coverage part of your divorce settlement—a qualified and experienced attorney will be able to determine if adding health insurance coverage to your divorce settlement is an option you should pursue.
- Purchase individual health plans—in some situations, this may be your only option; however, before you purchase an individual health policy, it is best to discuss health insurance and divorce issues with your attorney. After all, there may be better options available to you and your family.
While these options may be best for obtaining your health benefits after divorce, your children may have other options. A Qualified Medical Child Support Order gives custodial parents the right to use the noncustodial parent’s health plan to obtain health insurance coverage for their children. This court order ensures that children are not denied health coverage simply because they do not live with the parent or are outside of the plan’s service area. Your attorney will discuss all of your options with you, so you can obtain the right benefits for you and your family, after your divorce.
Life Insurance—after your divorce, the noncustodial spouse may be required to name their ex-spouse as the beneficiary of their life insurance policy because it can be used to guarantee that alimony and child support payments will continue, in the event of their death. Before you obtain your divorce decree, however, it is important to discuss these situations with your attorney to ensure that all of your needs and the needs of your children are considered far into the future. A thoroughly crafted support agreement should included provisions for life insurance to secure anticipated support payments.
Terminating Insurance Benefits after Divorce in New Jersey
When your obligations to pay alimony terminate, or when a child is emancipated, you are generally relieved of other responsibilities as well. When the support obligation is no longer effective, you may no longer have the need to maintain life insurance or keep that person as the beneficiary of your life insurance policy. Additionally, you can be relieved of other obligations, such as medical or health insurance after divorce. Before you do anything, however, it is important to discuss all of your legal options with a family law attorney. Call us now to schedule a free consultation (888) 888-0919 or contact us online.