For many families, one spouse's employer provides excellent health insurance for the entire family. Losing that coverage is a major financial and medical concern in a divorce.

The law on this is very clear: once your divorce is final, you are no longer legally eligible to remain on your ex-spouse's employer-provided health insurance plan. The final divorce decree acts as a "qualifying event" that removes you from their policy.

However, this does not mean you will be left without coverage. You have options, and planning for them is a key part of your divorce settlement. Your primary option is a federal law known as COBRA.

COBRA gives you the right to continue your existing health coverage for a limited period, typically up to 36 months after the divorce, though sometimes for a much shorter period of time. The major downside is the cost. You will be responsible for paying the entire premium yourself—both your share and the share your spouse's employer was previously paying—plus a small administrative fee. This can be very expensive.

Because of the high cost of COBRA, the issue of health insurance is often a key point of negotiation. Your divorce agreement can specify that your spouse will help pay for your COBRA premiums for a certain period of time, sometimes as a form of spousal support. Or, you may be better off securing health insurance through your employer or purchasing a private policy.

To learn how to negotiate for healthcare costs in your settlement, download our free guide: Financial Clarity & Control: The Professional's Guide to a Secure Financial Future After Divorce.