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Does equitable distribution cover future health insurance?

Maryland women who are going through a divorce may be interested to learn of a recent study conducted at the University of Michigan regarding the state of women and their health insurance coverage post-divorce. The study is eye-opening because it reveals a relatively high percentage of women are left with no health insurance coverage following the equitable distribution of property and assets in a divorce.

The study showed that women in the middle income range who are dependent on their husbands' employer-based health insurance are particularly vulnerable to being left without coverage. In fact, approximately 25 percent of women in this category have no means of obtaining private health insurance at soon as six months following their divorce.

This study may signal a need for women to educate themselves regarding their financial ability to obtain private health insurance following a divorce. Even women who have their own employer-based coverage are susceptible to losing it after a divorce due to the unanticipated financial costs of maintaining health insurance. At this time it is unclear whether the anticipated changes to health care laws under the Affordable Care Act, which are scheduled to go into effect within the next few years, will make a difference for women who are facing this difficult problem.

In any divorce, both men and women need to carefully examine their finances and anticipated spending needs post-divorce. This can be a difficult process but is essential when facing the prospect of asset division and equitable distribution of property. A careful analysis of these issues can go a long way to preventing financial woes following a divorce.

Source: health.usnews.com, "Divorce Puts Women at Risk of Losing Health Insurance, Study Finds Nov. 16, 2012

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