Financial Focus- Produced By COPIC Financial
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What Our Customers are Saying about Our Health Insurance Department


"Andrea goes above and beyond the scope of her job for us. She has gone to a physician's home with their insurance choices. She recently researched bank HSA programs to help us choose the best HSA plan for us. She has become an integral part of the employee insurance decisions we must make every year."

-Practice Administrator, Thornton

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In This Issue-August 2011
Quiz: How Much Do You Know About Health Reform?
When Faced with Life Changes, Don't Forget to Reassess Your Finances
Selling Products Through Your Practice Increases Your Risk of Being Sued
What are Your Chances of Becoming Disabled?
When Your Employees Go Mobile, Where Does Your Liability Begin and End?
Are You In Charge of Purchasing and Interested in Saving Some Money?
Video: Spotlight on Health Savings Accounts
Quiz: How Much Do You Know About Health Reform?

Take this quiz, developed by the Kaiser Family Foundation, to test how your knowledge compares to the rest of the U.S.  


Questions? Contact Andrea Levine at 720-858-6287.

When Faced with Life Changes, Don't Forget To Reassess Your Finances
Change is an inevitable part of life. When it comes to your financial security, there are a few life changes that should trigger a reminder to talk to your advisor.
  • Marriage. Time to assess mortgages, wills and your family's financial health.
  • Job changes. Have your benefits changed? Do they align with your personal financial strategy? Do you need additional coverage, like disability, to protect your family?
  • Baby. A baby changes everything. Including how to manage your finances.
  • Divorce. Again, it's time to look at your goals and overall financial strategy.
  • Purchasing a new home. In addition to the new coverages you will need, you'll want to think about how to afford your house payments in the event of disability or otherwise.
  • Kids off to college? Are you closer to retirement than you might think? Now's the time to talk to someone about your financial situation.

If you're facing a major life change and need help contact Mike Edwards at 720-858-6289.


Adapted from Principal Financial Group.


Securities offered through Woodbury Financial Services, Inc., member FINRA, SIPC. COPIC Financial and Woodbury Financial Services, Inc. are not affiliated entities.

Selling Products Through Your Practice Increases Your Risk of Being Sued

Selling products through your practice might be a good way to help your patients, but beware. You could be faced with a lawsuit.


If your patients purchase anything from you other than your professional services, you should consider purchasing product liability insurance. Whether its teeth whitening kits or vitamins, you may be liable if the product is defective or somehow causes harm to your patient.


Your exposure is highest if the products you sell are under your own name. But even if you're just the "middleman" and you only sell products manufactured by someone else, a products liability policy covers your defense in case of a suit. In such cases, the suit will likely end up with the manufacturer of the product, but your defense costs could be stagger­ing.


Product liability insurance is an affordable way to protect yourself from this type of exposure. COPIC Financial can help you determine if it's a good solution for you. Contact Kristin Stepien at 720-858-6297.


If you are covered by COPIC for your medical professional liability insurance, know that the policy specifically excludes any liability related to products you sell in your practice. See your policy for details.

What Are Your Chances for Becoming Disabled? (hint--they are higher than you might think!)


According to the Council for Disability Awareness:

  • Just over 1 in 4 of today's 20 year-olds will become disabled before they retire.
  • Freak accidents are NOT usually the culprit. Back injuries, cancer, heart disease and other illnesses cause the majority of long-term absences.

So, unless you have enough savings to cover 2.5 years of disability (the average length of a disablity), you may want to consider purchasing disability insurance.


Mike Edwards can help determine the right amount of coverage for you. Contact Mike at 720-858-6289.

When Your Employees Go Mobile, Where Does Your Liability Begin and End?

Do you provide your employees with smartphones that allow them to conduct business outside of your four walls and normal business hours?


You may want to consider how to protect yourself from workers' compensation claims that could occur while your employee is mobile. If your employee conducts business while walking down the sidewalk, are you liable if he takes a fall? Is he technically "on the job?"


Because this is a new potential area of exposure, experts recommend that employers define the course and scope of work in a contract whenever a mobile device is distributed. This definition could help you in the long run.


Questions? Contact Kristin Stepien at 720-858-6297.


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Are You In Charge of Purchasing and Interested in Saving Some Money?

Here's how it works. Contact Taylor Schierburg to receive a free, no obligation assessment of the products you currently purchase. She'll do an "apples to apples" comparison of the price you pay and the price she may be able to offer through the CO-Power program. Many practices that Taylor has worked with saved 12-15 percent!


This assessment will include nearly everything you purchase--from office supplies to collection services to medical supplies and services. See a full list of product offerings.


Savings realized are direct to your practice. COPIC does not receive any commissions based on this program. It's just another way we try to help the health care community.


Contact Taylor at 720-858-6179.


Video: Spotlight on Health Savings Accounts


Check out this video offered by Optum Health Bank to learn more about health savings accounts.


Questions about HSAs? Contact Andrea Levine at 720-858-6287.  

Even if you're not currently in the market for insurance products, we're always available to help make sure you're getting the best coverages at the best prices. Call us at 720-858-6280!

Wendy Heckman
President, COPIC Financial Service Group
COPIC Better Medicine, Better Lives
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Copyright 2011 by the COPIC Trust. All rights reserved. No part of this publication can be produced or transmitted in any form or by any means without written permission from the publisher.

  COPIC Financial Service Group, Ltd. is an insurance brokerage firm representing a variety of insurance carriers. Products offered by COPIC Financial are not issued by COPIC Insurance Company.