Welcome to the thirty-fourth episode of the Divorce and Your Money Podcast. Shawn Leamon, MBA and a Certified Divorce Financial Analyst, discusses health insurance and what happens to it after your divorce.
Regarding health insurance, you have three options: 1) the spouse with the job continues to pay for it, 2) you get COBRA, or 3) you get a new policy.
If you are separated but not divorced, you can continue to stay on your spouse’s health insurance as long as she or he agrees to keep paying for it.
Key Learning Points:
- If your spouse agrees, he or she can pay for your health insurance after divorce.
- COBRA can provide up to 36 months of health insurance.
- Getting a new policy can be expensive, so be sure you have the right budget for it.