One of the many challenges of divorce is figuring out how to divide the many expenses that come with raising children. One of the highest costs can be healthcare, particularly if a child has a chronic condition that requires ongoing treatment.
Child Support Calculations and Healthcare Costs
When a court determines child support payments, they consider many factors, including the child's healthcare expenses. In California, the child support formula includes a multiplier for healthcare expenses. This means the amount of support paid to the custodial parent will increase depending on the child's healthcare needs. It's essential to keep track of all healthcare-related expenses, from the cost of doctor visits to the cost of medications.
Unexpected and Uncovered Medical Costs
Even with adequate healthcare coverage, unexpected costs can arise when you have a child with complex medical needs. Co-pays and deductibles can add up quickly, especially if your child requires frequent specialist visits or medication. It's essential to plan and budget for these expenses, particularly if they are not covered by insurance. Some parents may set up a health savings account (HSA) to help cover these costs.
Long-term Healthcare Planning
Parents of children with chronic conditions need to plan for ongoing medical expenses, which may not be fully covered by insurance. This includes mobility aids, therapy, and ongoing prescription medications. Working with your child's medical team is essential to project long-term costs and plan for them accordingly. Consider consulting with a financial planner specializing in healthcare costs to help create a plan for your child's unique needs.
Communication and Cooperation
When it comes to managing healthcare costs after divorce, communication and cooperation are key. Ensure you are both aware of the healthcare expenses and who is responsible for paying them. Consider setting up a joint account specifically for your child's healthcare expenses. Communicate regularly about changes to your child's healthcare needs or insurance coverage.
We Do Family Law Differently
Divorced parents in California are both responsible for providing for their child's healthcare needs. At Embry Family Law P.C., our attorneys understand how difficult it can be for families to navigate financial commitments following a divorce. Together, we can help you develop a child support plan that helps provide for your child's medical needs.
Call us today at (619) 485-6476 to request a consultation with a member of our team and learn more about how we can help you approach your family law matters.