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Divorce and insurance

Georgia residents who get a divorce should expect the process to be stressful and should prepare to deal with a range of practical, financial and emotional issues. However, it is important that they make sure to not disregard how important it is to keep their insurance in order and make any necessary coverage changes.

One important type of insurance that has to be addressed during a divorce is health insurance. In many situations, one spouse receives health coverage from the employer-sponsored health plan of the other higher-earning spouse. When a divorce occurs, the 1986 Consolidated Omnibus Budget Reconciliation Act allows a spouse who is not earning income to extend the health insurance coverage via their ex-spouse's employer plan as long as three years after the divorce. However, this option can be expensive for the spouse who has to pay premiums.

Because of the 2010 Affordable Care Act, there are more affordable health insurance choices for individuals who do have not have their own employer-sponsored plan. This includes individuals who have pre-existing conditions.

Another important type of insurance that should be addressed during a divorce is life insurance. Individuals who anticipate receiving spousal support should take particular interest in the life insurance of their soon-to-be ex-spouse because spousal support usually ends when the payor dies. However, if the payor has a life insurance policy in place and the payee is not inheriting other types of assets that will replace the payments, the spousal support payments can be paid form the payor's life insurance policy.

A divorce attorney may pursue favorable settlement terms on behalf of clients. The attorney may explain the importance of reviewing insurance coverage and push for settlement terms that ensure policies are in place to allow spousal support payment to continue after an ex-spouse dies.

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Hecht Family Law
12600 Deerfield Pkwy
Suite 125
Alpharetta, GA 30004

Phone: 678-926-9234
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