What happens to health insurance after filing for Chapter 11 bankruptcy?

 

What happens to health insurance after filing for Chapter 11 bankruptcy?
Profile photo for Tim Cella
Tim Cella
used to work at several law firms

Health insurance should stay in effect for you personally if you file a chapter 11 bankruptcy until you stop paying the premium. The same would be the case if your business filed a chapter 11 bankruptcy.

Typically, a Chapter 11 is filed by companies rather than individuals as it is a form of bankruptcy protection that gives a company time to reorganize its debts and assets. Most importantly for this discussion, there are two types of health insurance that can help protect you from being dropped from your coverage: continuation coverage and COBRA. Continuation coverage kicks in after an employer-provided health plan ends. It usually lasts for 18 months but it can extend even longer if the company goes through a restructuring period during that time. COBRA kicks in after regular continuation coverage ends; it means that you can continue with your employer's health plan at the same cost and without any pre-existing condition exclusions if you have left employment.

Every situation is unique and without more information or specifics from you I can’t really provide more detail than this. I believe that your next best step is to contact a bankruptcy lawyer for help.

This bankruptcy lawyer will give you a free consultation.

Ascent Law LLC

8833 South Redwood Road Suite C

West Jordan Utah 84088

(801) 676–5506

Bankruptcy Lawyer - (801) 676-5506 - Free Consultation
Do you need a bankruptcy lawyer? If you do, call Ascent Law for your Free Consultation (801) 676-5506 - We are here to help you.
https://www.ascentlawfirm.com/bankruptcy-lawyer/

Location: Millcreek, UT, USA

Popular posts from this blog

Weight Loss

Image
Contact Us Today! +1801-643-3878 Reform Lifestyle with Ike Cella 7891 6100 W, West Jordan, UT 84081 https://docs.google.com/spreadsheets/d/1S0tQEgHTY4ZTRFs9p-bH57gALut62G9Czv5l0QeHOSg Weight Loss Obesity has actually become a global health and wellness epidemic, impacting millions of people worldwide. While many people battle to lose weight by themselves, dealing with a accredited nutritionist and also weight reduction coach can supply the assistance and assistance needed to achieve lasting success. One such professional in this field is Ike Cella, who works with Reform Way of life in Utah to assist clients reach their weight reduction goals. In this write-up, we will certainly explore the advantages of collaborating with Ike Cella and also Reform Way of life, share real-life success tales, and provide ideas and also takeaways for any individual looking to slim down. What is Reform Way of living? Reform Way of living is a weight loss program
Read more

What is the best state to do joint custody?

Image
  What is the best state to do joint custody? Tim Cella used to work at several law firms I think the law requires that you do joint custody in the state in which you are residing. You reside in the state where you are domiciled, meaning you have the subjective intent to remain there. I don’t think you can just pick and choose what state you can do joint custody. With that being said, if you’re moving states, please keep in mind that joint custody is a complex part of family law. Generally speaking, the states that are the most favorable to joint custody are those that promote a relationship between both parents and the child, and that work to protect the rights of both parents and the child. I believe all states will want to do this. I know that some states require a period of  mediation  or a parenting plan before joint custody is granted, and other states may have a preference for joint custody over sole custody. Additionally, some states require a court order for joint custody, whi
Read more

What is business law?

Image
  What is business law? Tim Cella Former Paralegal at  Ascent Law  (2018–2021) I’m not a lawyer, but I’ve worked in several law offices. Based on my understanding, business law is a body of law that governs the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trading, and sales. Business law encompasses a wide range of legal disciplines and topics, including business formation, corporate governance, contracts, torts, employment law, securities law, intellectual property, bankruptcy, tax law, insurance, antitrust, and consumer protection. Business law applies to all types of businesses, from small, independently owned businesses to large corporations. It is also applicable to business transactions conducted outside of the United States. Business law is divided into two main categories: private law and public law. Private law deals with the relationships between private parties, such as individuals, companies, and other organizations. This area
Read more