Many older couples going through divorce wonder how their healthcare coverage will be affected, especially when their partner has been on their insurance plan for years. Divorce can bring about changes to financial and personal circumstances, and health insurance is no exception. Maintaining affordable and comprehensive healthcare is often a top priority for couples nearing retirement or already in their later years.
If one spouse was primarily covered by the other’s employer-sponsored health plan, it may raise questions about what happens after the divorce is finalized. While there are options available, it’s good to know the rules and regulations governing health insurance after divorce in Colorado, as this can help both parties make informed decisions moving forward.
Options for health insurance after divorce in Colorado
Once a divorce is finalized, most employer-sponsored health plans will no longer allow an ex-spouse to remain on the policy. This is because employer-sponsored health insurance only extends to legal dependents and spouses.
However, there are a few alternatives that can help ensure ongoing coverage. They include but not limited to:
- Consolidated Omnibus Budget Reconciliation Act (COBRA): This coverage allows the ex-spouse to continue coverage under the same plan for up to 36 months. While COBRA can provide a temporary solution, it’s important to note that the cost of premiums may increase because the employer is no longer contributing to the cost of coverage.
- Individual coverage: This can be done through the health insurance marketplace or Medicare if they are of age. Sometimes, a legal separation (rather than a divorce) may allow both parties to remain on the same health plan.
Consulting with a legal practitioner can help individuals understand their options and choose the best action for their situation. Proper planning and guidance can help ensure both parties secure the health coverage they need to move forward.
