While the overall rate of divorce has declined over the past several years, the rate of gray divorces has increased. Gray divorces are those that involve couples who are 50 years of age or older. Gray divorces have some unique issues that often need to be addressed that divorces involving younger spouses typically do not. One of those important issues is health insurance. What options does a person who has always been on their spouse’s health insurance have when they are divorcing later in life, especially given the high price of health insurance for older people and how might this issue affect negotiations when it comes to the division of assets?
Why You Need Health Insurance
Given the high prices of medical care, everyone should have health insurance. All it takes is one serious illness or injury and the person can be facing overwhelming medical debt that can have a significant impact on their finances and may even lead to the need to file for bankruptcy.
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