Staying Insured: Post Divorce Healthcare Options in NJ

Are Medical Benefits Considered Marital Property in Morris County, NJ?

Are Medical Benefits Considered Marital Property in Morris County, NJ?During the course of a divorce, most assets which were held jointly or were acquired during the course of a marriage must be divided. Many individuals think about child custody arrangements, if applicable and spend time brainstorming different solutions that will facilitate the equitable distribution of relevant assets. Many individuals will labor over one or a few of these core common types of assets and  how they are going to agree with their soon to be ex-spouse on splitting them up equally. 

  • Will they have to sell the family home and distribute any equity to both parties?
  • Will one spouse take the family owned business and buy the other out? Can the two continue to work together as colleagues and maintain a profitable business and positive work environment?
  • What do they do with their 401K’S, IRA’s, Roth Accounts, and any other retirement related assets? If one spouse has more in their retirement than the other, who gets what? What about a pension? Are pensions treated the same as retirement?

While a divorce or dissolution of a civil union is pending, New Jersey’s family law protects a spouse (including domestic, same sex and civil union partners) and defendant children from being removed from his or her spouse’s health insurance.  However, once the Final Judgment of Divorce is signed by a judge, coverage may cease immediately (although most plans allow a 30 day window).

If you are unemployed or work part-time without benefits, your fear that your spouse will not re-enroll you or the children you during the next open enrollment period, is a common concern.

The equitable distribution attorneys of Jacobs Berger have extensive experience helping divorcing couples divide complex assets in Morris County towns including Madison, Randolph, Morristown, Denville, Dover, Florapark, East Hanover, Rockaway, Tewksbury, and across Northern New Jersey. Our firm is built on the belief that most divorce disputes can be handled amicably and cooperatively, but will not hesitate to pursue any means necessary to protect your family’s future. Our attorneys take pride in offering dynamic and personalized legal solutions to fit your individual needs and concerns.

Call our office today to learn more about your legal standing, future health insurance options, or any other divorce legal matter in a confidential and comprehensive case assessment.

Equitable Distribution of Healthcare Attorneys Morris NJ

New Jersey is an equitable distribution state. For those going through a divorce, this means that assets which are considered “marital” must be divided equitably, though not necessarily evenly. In other words, judges or mediators will look at how much each party contributed to the asset in question, the length of the marriage, and much more to determine how to divide assets.

One of the most important steps our Randolph martial asset division lawyers will take during your divorce process is to help valuate your assets. Employee benefits like stock options and profit sharing are considered potentially valuable assets eligible for equitable distribution, while health insurance, may not be. Each case is different, and speaking with our marital asset division lawyers can help you understand your options from a legal and financial perspective.

Madison Divorce Lawyers Value Medical Benefits

Divorce or dissolution of a civil union is a qualifying event that entitles you to purchase or enroll in a new insurance policy, but it must be done during a specified time period after the divorce.

Consult your Madison divorce and civil dissolution attorney about the appropriate changes you may need to make to your current coverage and to discuss future medical benefit options. If you and your spouse both agree that changes are appropriate for your current circumstances, then go ahead and change it. If there is no consensus, in most cases, your spouse cannot change the insurance without the court’s approval.

Post Divorce Healthcare Options in New Jersey

If you were covered under a family medical benefits plan through your spouse’s job, you will need to research various options for continuing coverage, or consider beginning a new policy in your name.

  • Use open enrollment dates for your current family plan to investigate future medical coverage best suited to your health and financial situation
  • If currently employed, you may want to obtain health insurance through your employer
  • COBRA (Consolidated Omnibus Budget Reconciliation Act) – easy to obtain, not automatic, may be more expensive; you can remain under your former spouse’s employer’s group health plan that you were covered by pre-divorce for up to three years
  • Affordable Care Act (ACA) – individual health insurance
  • Divorce from Bed and Board or “limited divorce” – New Jersey form of “legal separation” which takes immediate effect, and prevents your insurance company from discontinuing your coverage
  • New Jersey Family Care program – offers coverage for families and children

Contact our Dover, Randolph, and Morristown Divorce and Family Law Attorneys Today

At Jacobs Berger, our divorce and family law attorneys understand that no two divorces are exactly alike. For this and many other reasons, we take the time to understand your individual needs, and healthcare coverage concerns going into divorce proceedings and tailor our legal approach around that reality. This unique approach to divorce law has allowed us to deliver results for our divorce clients from local Morris County communities including Morristown, Madison, Denville, Randolph, Dover, Florham Park, East Hanover, and across all of Northern New Jersey. Our attorneys concentrate on securing a solid legal, financial, and emotional foundation for clients and their families.

If you or a loved one have any questions or concerns regarding their divorce, the division of complex assets or the continuance of medical benefits during or after a divorce, please contact us online or through our Morristown, NJ offices by calling (973) 718-7705 today for a comprehensive and confidential case assessment with one of our qualified and experienced divorce attorneys.

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