Lisa who was 54 years old was going through a divorce. She was concerned about losing the excellent health insurance coverage she currently had through her husband’s employer and what her insurance costs would be in the future. Her divorce attorney recommended that she contact Healthcare Pathfinder (HCP) to discuss her concerns. Lisa met with HCP for a consultation. HCP explained to Lisa the importance of assessing and comparing her current coverage and costs to what her future coverage and costs will be prior to divorce because this information can be very valuable to share during the divorce process
HCP helped Lisa to understand her future healthcare options listed below:
- COBRA(Consolidated Omnibus Budget Reconciliation Act) – She would be eligible to continue with her ex-husband’s employer benefits for 36 months. Explained how COBRA works, the costs, and the term.
- State Insurance – Options for coverage through her state’s individual insurance marketplace. She could opt out of COBRA and enroll in a state plan or when COBRA ends this would be her option.
- Medicare Insurance- Coverage when she turns 65.
- Long Term Care – Coverage that helps cover the costs of that care when you have a chronic medical condition, a disability, or a disorder such as Alzheimer’s disease.
They also discussed Lisa’s current and anticipated out-of-pocket medical costs not covered by insurance and the cost of long term care that she may need when she gets older. They created a spreadsheet comparing Lisa’s current insurance plan benefits and costs to future options and cost so that her divorce attorney could include this information in financial discussions for the divorce settlement. They also recommended that she talk to her financial advisor about managing these projected expenses and Long Term Care Insurance.
After working with HCP, Lisa felt much more confident about her future healthcare care options and had a plan.
*We have changed our clients’ names in our stories.*
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