Navigating Change: Financial Insights for Divorced Employees of Petco Health and Wellness

Healthcare Provider Update: Healthcare Provider for Petco Health and Wellness Petco Health and Wellness collaborates with several healthcare organizations to provide comprehensive employee benefits, including access to health insurance plans through various national providers. In particular, they typically offer employee health coverage managed by prominent insurers such as UnitedHealthcare and Aetna. Potential Healthcare Cost Increases for Petco Health and Wellness in 2026 As we look ahead to 2026, Petco Health and Wellness employees may experience significant increases in healthcare costs, mirroring broader trends in the market. The expiration of enhanced federal subsidies from the Affordable Care Act (ACA) could lead to spikes in out-of-pocket premiums, with some states projecting hikes of over 60%. In this context, many employers, including Petco, are re-evaluating their benefits structure, potentially shifting more costs onto employees through increased deductibles and co-pays. Without decisive action to mitigate these rises, individuals could face substantial financial burdens while seeking necessary care in a high-cost landscape. 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 Petco Health and Wellness 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 Petco Health and Wellness 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 Petco Health and Wellness 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 Petco Health and Wellness employees understanding a few key concepts, they may be able to avoid making costly financial mistakes.

1. The Wall Street Journal, 2019