Navigating Change: Financial Insights for Divorced Employees of Macy's

Healthcare Provider Update: Healthcare Provider Information for Macy's: Macy's, as a large retailer, typically provides employee health insurance through various national carriers. Among the prominent providers, UnitedHealthcare has been the primary healthcare partner for Macy's, offering a range of health plans that include medical, dental, and vision coverage for employees. Healthcare Cost Increases in 2026: As Macy's faces healthcare cost pressures in 2026, significant increases in insurance premiums are anticipated due to the expiration of enhanced federal subsidies under the Affordable Care Act (ACA). Some states could see hikes exceeding 60%, with as many as 22 million marketplace enrollees potentially experiencing more than a 75% rise in out-of-pocket costs. Contributing factors include rising medical costs driven by inflation, labor shortages, and high pharmaceutical prices, further straining budgets for employers like Macy's. This perfect storm of escalating costs and diminished subsidies places additional financial pressure on both the company and its employees, necessitating strategic planning moving forward. Click here to learn more

The latest research suggests that divorce rates in the U.S. have been falling in recent decades. Still, many people face the difficult crossroads that comes when their marriage ends.

Getting a divorce is a painful, emotional process. Don’t be in such a hurry to reach a settlement that you make poor decisions that can have life-long consequences. For any of our Macy's clients who may possibly have to have a divorce, here are a few financial ideas that may help you prepare.

The most important task these Macy's employees can do is to get their finances organized. Identify all your assets and make copies of important financial papers, such as deeds, tax returns, and investment records. When it comes to dividing up your assets, consider mediation as a low-cost alternative to litigation. Most states have equitable-distribution laws that require shared assets to be divided 50/50 anyway. When a divorce becomes contentious, attorney’s fees can accumulate.

From a financial perspective, divorce means taking all the income previously used to run one household and stretching it out over two residences, two utility bills, two grocery lists, etc. There are other hidden costs as well, such as counseling for you or your children. Divorces also may require incurring one-time fees, such as a security deposit on a rental property, moving costs, or increased child-care.

Finally, dividing assets may sound simple but it can be quite complex. The forced sale of a home or investment portfolio may have tax consequences. Potential tax liability also can make two seemingly equal assets have varying net values. Additionally, when pulling apart a portfolio, it makes sense to consider how each asset will suit the prospective recipient in terms of risk tolerance and liquidity.

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We'd like our Macy's clients to remember, the information in this article is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.

During a divorce, many factors are competing for attention. By these Macy's employees understanding a few key concepts, they may be able to avoid making costly financial mistakes.

1. The Wall Street Journal, 2019