How Your Health Insurance is Affected by an Ohio Divorce

health insurance cobra coverage divorce

Will My Health Insurance Coverage End During A Pending Divorce Proceeding? COBRA Law And Other Options To Consider

health insurance cobra coverage divorceI recently realized that I had not posted a blog about health insurance and divorce in 10 years. Click here to read that one titled Health Insurance: Divorce Often Ends Coverage for Women. It is still worth reading after all those years!

YOUR SPOUSE CAN NOT CANCEL YOUR HEALTH INSURANCE DURING THE PENDENCY OF YOUR DIVORCE OR DISSOLUTION CASE.

In Ohio, Ohio Revised Code Section 3105.71 prohibits cancellation of health insurance coverage prior to the divorce court deciding responsibility. So that law preserves the status quo as it relates to maintaining health insurance coverage during the divorce. This is also true even if the insurance “open enrollment” period occurs during the divorce proceeding. Click here to read that statute. But what happens when the divorce cases ends?

The good news is that upon the termination of your marriage, there are various options to consider. Here are the basics.

DOES ONE SPOUSE PROVIDE HEALTH INSURANCE FOR BOTH SPOUSES?

If you both are on the same health insurance plan, you will likely need to take some steps to maintain your health insurance … Read More... “How Your Health Insurance is Affected by an Ohio Divorce”

Important Steps to Take After Your Divorce Has Been Completed!

divorce finalized health insurance

Divorce Finalized? Financial And Legal Steps To Take Before You Can Start Your New Life!

divorce finalized health insuranceHooray! Your divorce has been finalized and although it is a time filled with mixed emotions, it is a relief to know that the bickering is over, the court proceedings are over, the paperwork is over, and keeping your attorney on speed dial is over. However, before you start adjusting to your single life, there are a few things, both financially and legally, that you need to pay attention to.

Number 1:  Thoroughly Review Your Divorce Decree

Why, you might ask? Of course you know what you agreed to, however it is easy to forget the small details regarding what your obligations and responsibilities. Have all the mentioned provisions been completed? For example, was a deed to have been filed? Are there are deadlines, such as amounts due for child support or for alimony?  You should mark your calendar and write down any deadlines to be sure you meet all your obligations timely. Mark down the deadlines for your ex and contact your attorney if they are not met.

Number 2: Update Your Health Insurance Coverage

Typically, if you were covered under you ex’s health … Read More... “Important Steps to Take After Your Divorce Has Been Completed!”

Health Insurance: Divorce Often Ends Coverage for Women

How Effective Will The Affordable Care Act Be For Women Suffering Health Insurance Loss After Divorce?

health insuranceApproximately 115,000 women lose their private health insurance every year as a result of divorce, according to a recent University of Michigan study. “Given that approximately one million divorces occur each year in the U.S., and that many women get health insurance coverage through their husbands, the impact is quite substantial,” said Bridget Lavelle, a U-M doctoral candidate in public policy and sociology, and lead author of the study which appears in the December issue of the Journal of Health and Social Behavior.

Many women who lost their health insurance coverage remained uninsured for more than two years following their splits, according to the researchers who analyzed data from women between the ages of 26 and 64 from 1996 through 2007.

Lavelle conducted the study, which analyzes nationally representative longitudinal data from 1996 through 2007 on women ages 26-64, with U-M sociologist Pamela Smock. Their research was supported by the U-M National Poverty Canter.

Among the other key findings of the study according to a University of Michigan press release:

  • Each year, roughly 65,000 divorced women lose all health insurance coverage in the months
… Read More... “Health Insurance: Divorce Often Ends Coverage for Women”

Care Insurance: Long-Term Health Care Update

How Ohio’s Long-Term Care Insurance Program Can Make Sense For You!

Care InsuranceIt is now almost 5 years since Ohio’s long-term care partnership program was implemented in order to allow Medicaid participants to protect more of their assets from the Medicaid spend down process.  With the rising cost of long-term care and the effect that the recession has had on most individual’s savings, this program is more valuable than ever.  A long-term health care insurance policy that meets certain criteria can provide tremendous savings and asset protection against future health care needs by allowing an individual to shelter an amount of assets equal to the amount of coverage under the policy.

Once again, the policy must meet the following criteria:

  1. Must be issued after September 10,2007;
  2. The insured must be a resident of Ohio when coverage first becomes effective;
  3. The policy must be a federally tax qualified plan based on IRS Code;
  4. The policy must meet strict consumer protection standards; and
  5. The policy must include certain protections against inflations.

It was recently estimated that a 65 year old has almost a fifty percent chance of spending some time in a long-term care facility.  The average length of stay is 2 ½ … Read More... “Care Insurance: Long-Term Health Care Update”

Simple Year End Tax Tips

taxtips.jpgAs the end of the year approaches, the following simple tax tips can keep taxes as low as possible.

    1. Charitable gifting. Charitable donations may be used as deductions against your taxable income.  However, all charitable donations must be supported with written receipts unless under $250 in which case a bank record is sufficient.  Also, donations of services or your time are not tax deductible.
    2. Gifting in general. Each individual may gift up to $13,000 per year to an unlimited number of individuals without filing a gift tax return.  Any gifts over $13,000 per year reduce the lifetime gift tax exclusion of $1,000,000.  Once the lifetime exclusion is exhausted, gift taxes must be paid.
    3. Pay property taxes early. Real estate taxes are deductible.  For taxes due early next year, if you pay them this year, you can use them as a deduction.
    4. Sell poor performing securities. Losses can be offset against gains reducing any capital gains.  Excess losses can be deducted, but only up to $3,000 per year.
    5. Increase retirement plan contributions. Retirement plan contributions reduce taxable income.
    6. Increase business expense purchases. Purchases of business equipment, supplies, etc., can be used as taxable deductions.
    7. Maximize necessary medical expenses. The purchase of
… Read More... “Simple Year End Tax Tips”

Military Divorces – Factors To Consider Other Than Military Pensions

tricare.jpgIn April, one of our Family Blog Articles focused upon the division of military pensions. The focus of this article is upon other benefits available to former spouses of military members. Those potential benefits include the following:

A. Commissary Benefits: Commissary is defined as “a store, as in an army camp, where food and supples are sold”. The Commissary at Wright Patterson Air Force Base is a very large “grocery store” with all the amenities and the usual departments to include: Meat/Fish/Poultry, Fresh Produce, Bakery, Deli, Frozen Food Products, Canned Food Products, Paper Products, Cereal and Grain Products. The primary benefit to the former spouse is that the prices are much less expensive than prices at local grocery stores. Shopping there is a true benefit in terms of dollars saved!

B. Base Exchange Benefits: The Base Exchange is similar to a large department store having the following departments: Men’s Clothing, Women’s Clothing, Children’s Clothing, Shoes, Make-Up, Gifts, Jewelry, Television Sets and Electronics, Small Appliances, and other Miscellaneous Departments. As in Item A. above, the prices are less expensive than prices at local department stores providing another true benefit in terms of cost savings.

C. Base Hospital and Medical Benefits: This … Read More... “Military Divorces – Factors To Consider Other Than Military Pensions”

Factors The Court Considers In Determining Whether To Award Spousal Support Pt. 2

Attorney Anne Shale adds 10 more factors to consider in Part 2 of “Factors The Court Considers In Determining Whether Or Not To Award Spousal Support”.

[e]:

The duration of the marriage. The longer the duration of the marriage, the longer the potential spousal support obligation is likely to be. For example, if the marriage of the parties exceeds thirty (30) years in duration, the Court is likely to attempt to “equalize” the earnings or incomes of the parties. And, if the parties have been married just one to two years in duration, the Court is likely not to award any amount of spousal support. While I have represented Husbands who say they have tried to keep the “marriage together” for the sake of the children, this goal often comes back to haunt them when their Wives are awarded a lengthy duration of spousal support. In Montgomery County, Ohio, there is a very “general” and “unwritten” rule that spousal support may be awarded for up to one-third (1/3) of the duration of the marriage. Given a marriage of eighteen (18) years, it would not be unusual for the Court to order a term certain of spousal support for six (6) … Read More... “Factors The Court Considers In Determining Whether To Award Spousal Support Pt. 2”

Page 1 of 2
1 2