Love Will Keep Us Together, but Obamacare May Not
Love Will Keep Us Together, but Obamacare May Not
Those of us who were around in the 70’s most likely remember the song, “Love Will Keep Us Together” from the duo of “The Captain and Tennille”. Well, after 39 years of marriage, their ship is sailing and they are both not aboard.
“Why?” you may ask, “After 39 years would they split now?” There may be a plethora of reasons, maybe they “fell out of love”, or maybe one of them (or both) “didn’t want to be married anymore”, or maybe one of them “fell in love with their true soul mate”; or wanted “to be young again”, or maybe their health insurance has placed them in a predicament that has brought them to a point where it is financially advantageous to just divorce.
You see, The Captain (whose real name is Daryl Dragon), back in 2008 was diagnosed with a form of Parkinson’s Disease, and since the couple hasn’t really done any work for many, many years, there has not been a huge influx of cash coming in. According to reports from TMZ and The National Enquirer, it’s possible that they filed for divorce simply because their health insurance costs have skyrocketed, their health has deteriorated, and the coverage may be less expensive if they purchased it separately under the new Affordable Care Act rules and regulations.
Back in November of last year, there was a couple in Brooklyn, NY, who according to a CBS News report quoted the couple as saying that they were married because of the groom’s need for health insurance, and by entering into marriage with his girlfriend, her employer would provide it for him under their group coverage as a family plan.
However, once again due to the nuances of the Affordable Health Care Act, the same couple may be divorcing for the exact same reason that they married…only four years ago! Once again according to the CBS News report, the wife was laid off, so they lost their health care coverage, and the couple was quoted as saying that “Once Obamacare rolled out, we realized that we would save thousands of dollars if we got divorced.” Reason being, is that together as family of only two, they make more than the $62,000 level to qualify for subsidies under the Affordable Care Act.
But if they lived together unmarried, they would qualify for the subsidies and could literally save hundreds of dollars a month on their health care. A single person can qualify for subsidies if they make less than $46,000 a year.
Known as the “Marriage Penalty” by some, these income levels and regulations were set by Congress, so apparently a decision such as the one that this couple is facing, it completely legitimate and perfectly legal.
If you or any of your clients are in the process of a divorce, there is a website that will provide you and them with a list of frequently asked questions on insurance and divorce: www.opm.gov, and click on the “insurance” tab, and type in “divorce” in the search box. It will explain about different types of coverage, and which ones will survive, and not survive, in a divorce situation.
Speaking of Brooklyn, the “Garden spot of the world”, (“How sweet it is!”), The Professional Insurance Agents of New York recently held the area’s first insurance convention of the season. Master of Ceremonies and PIANY MetroRAP Chair Michael Demetriou of Demetriou General Agency, did a wonderful job in presiding over the luncheon where a number of awards were presented to honorees such as Terry Gras of Otsego Mutual Fire Insurance Co. for Executive of The Year award; Dave Bergeron of The Hartford Steam Boiler Inspection and Insurance Company for Industry Professional of The Year award; and Frank Carrigan of the New York Automobile Insurance Plan for Distinguished Insurance Service Award. Also presented were winners of the Bernard I. Kozel Memorial Scholarship, and Arthur I. Moll Memorial Scholarship.
Congratulations to all of our award recipients, and thank you to the committee which was comprised of Anthony Aquilino, Kristen Brekne, Al Caputo, Chrisanthi Demetriou, John Gallagher, Eduardo Giraldo, Michael Levy, John Mavroukas, Renee McFadden, Eugene Podokshik, Nancy Riersen, Peter Resnick, Paul Russo, Richard Signorelli, and Jeff Turrisi. Thank you for your effort and commitment to helping our industry benefit us all.
Well, until next time when we will be talking about some other events that are happening around town, Ciao for Now!
