Money does make the world go round, and although we don’t want to admit it, certain life-altering decisions are also postponed due to lack of funds: not just building a house, renovating or buying something new, but also things that can’t afford much delay, such as divorces. Indeed, many couples choose to remain together because of the unimaginable costs that they would have living apart, and this is a sad fact indeed.
What many experts are now asking themselves is whether or not the new Obamacare plan will have a divorce rate increase as an undesired side effect. And they are not so far off. If this act allows those who can’t afford health insurance to find a solution that saves them loads of money, why not try to escape from the marriage that you are in but is not working?
According to studies conducted by the University of Michigan during the last year, a great number of women find themselves without healthcare shortly after a divorce is finalized. This is either because they are not active on the work market, or because their employers do not offer health insurance to begin with. Within the same study, figures showed that even after six months of living separately after the divorce had been finalized, women who had been previously removed from their husbands’ health insurance plan were still living without being enrolled in any other health care plan. In other words, they simply do not have enough money to deal with their payments. If you are in such a situation you can click here to find out more about tax extension and other useful financial information.
Regardless of whether they are too young to obtain Medicare or cannot afford the costs of private insurance, a significant amount of couples actually decide to remain married until retirement so that the insurance also remains as it is.
But think about it –Obamacarepledges to offer the minimum healthcare services that any citizen requires, so in light of this change, it may just be that with the successful implementation of the project, there will also be a rise amongst those spouses who have been postponing divorce for exactly this reason.
Whether your future ex-spouse is required to pay alimony or better yet provide a certain level of healthcare coverage (from Bronze to Platinum) may only be solved through extensive court battles. So law attorneys will find themselves with their hands full of such glitches, as sliding-scale subsidies and other details which are still new. Subsidies are awarded if within a home, members make up to 400% of the federal poverty level so that spouses who are forced to pay alimony could also be declared eligible for subsidies (as this is a deductible tax).
There are of course no certainties one way or the other and even if the Affordable Care Act may lighten the efforts of some couples that are seeking a divorce due to the shift in financial perspective, it will surely complicate many current procedures, so if you are indeed looking to separate yourself from your spouse, be sure to seek council from family law attorneys that specialize in exactly these problems and make sure you get it all right. Bringing a financial investor into the mix for a plus in certainty is surely no bad idea, since they can correctly analyze the financial repercussions of divorce. The key is to be as informed as possible when it comes to the many requirements or possible loopholes you may find and not rush into decisions that may change your life, and not necessarily for the better.