Navigating Change: Financial Insights for Divorced Employees of Xerox Holdings

Healthcare Provider Update: Healthcare Provider for Xerox Holdings Xerox Holdings provides its employees with access to health insurance plans primarily through a partnership with major national insurers. Prominent health insurance providers include UnitedHealthcare, Anthem, and others, depending on the specific plan and state location. Employees are encouraged to review their options during open enrollment to choose the plan that best suits their healthcare needs. Projected Healthcare Cost Increases in 2026 The landscape for health insurance premiums in 2026 is disconcerting, especially for Xerox Holdings employees relying on plans from the Affordable Care Act (ACA) marketplace. In many states, premium increases could surpass 60%, primarily due to the anticipated expiration of enhanced federal premium subsidies, rising medical costs, and aggressive rate hikes from insurers. Consequently, individuals enrolled may see their out-of-pocket costs rise dramatically, with estimates suggesting an overall increase in premiums by as much as 75% for nearly 92% of marketplace enrollees. This combination of factors makes proactive financial planning essential for employees to navigate the upcoming challenges in healthcare expenditures effectively. 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 Xerox Holdings 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 Xerox Holdings 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 Xerox Holdings 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 Xerox Holdings employees understanding a few key concepts, they may be able to avoid making costly financial mistakes.

1. The Wall Street Journal, 2019