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Pre-Tax Investing for a Sound Future:


Maximize your pre-tax retirement savings:

1) Invest in your employer's pre-tax savings plans, such as a 401(k).
2) Place your money into an Individual Retirement Account (IRA).
3) Avoid dipping into your retirement savings, as you will lose principal and interest and may lose tax benefits.
4) Start saving early. Devise a savings plan, stick to it, and set goals for the future.
5) Put the maximum amount allowed into your employer-sponsored retirement accounts, especially enough to maximize any employer matching funds. This is free money, so take advantage!

Let COPIC Financial be your resource for retirement and insurance solutions to help you prepare for your future.


What Our Clients are Saying about our Property and Casualty Insurance Expertise


"It is such a pleasure to work with Jennifer Klein. I am a bookkeeper for four pediatric dental practices and have worked with her for a number of years. She always returns calls as soon as possible and is always ready to help. She is one of the biggest reasons I continue to recommend COPIC to the dentists I work with."
~Dental Office Bookkeeper


Want to save up to 45% on your disability income insurance? COPIC Financial has negotiated a specialty specific, individual disability plan for COPIC-insured physicians. Click here for more information.

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In This Issue-February 2013
Understanding the "Fiscal Cliff" Resolution
2013 Resolution: Protect your Business from Data Breaches
Long-Term Care Insurance: Helps to Offset the Cost of Extended Care
Small Business Solution: Employment Practices Liability Insurance (EPLI)

 Understanding the "Fiscal Cliff" Resolution 

A resolution to the "fiscal cliff" has kept everyone guessing at how to prepare for 2013 and beyond. As reported in a Denver Post article, here are some key points of the Senate bill which passed on the 1st of January: 

  • Income tax rates: Extends decade-old tax rates on incomes up to $400,000 for individuals, $450,000 for couples. Earnings above those amounts would be taxed at a rate of 39.6 percent, up from the current 35 percent. Extends Clinton-era caps on itemized deductions and the phase-out of the personal exemption for individuals making more than $250,000 and couples earning more than $300,000.
  • Estate tax: Taxed at a top rate of 40 percent, with the first $5 million in value exempted for individual estates and $10 million for family estates. In 2012, such estates were subject to a top rate of 35 percent.
  • Capital gains, dividends: Tax rate on such income exceeding $400,000 for individuals and $450,000 for families would increase from 15 percent to 20 percent.
  • Alternative minimum tax: Permanently indexes it for inflation to prevent nearly 30 million middle- and upper-middle income taxpayers from being hit with higher tax bills averaging almost $3,000.
  • Other tax changes: Extends for five years Obama-sought expansions of the child tax credit, earned income tax credit and an up-to-$2,500 tax credit for college tuition. Also extends for one year accelerated "bonus" depreciation of business investments in new property and equipment, a tax credit for research and development costs and a tax credit for renewable energy such as wind-generated electricity.


COPIC Financial offers financial expertise to help you deal with the changes and challenges created by the new tax implications. It's a complex situation and we can help you understand what you need to know and how this impacts your short- and long-term financial planning. Contact Mike Edwards at (720) 858-6289 for more information.


*Securities and Investment Advisory Services offered through Woodbury Financial Services, Inc., Member FINRA, SIPC and Registered Investment Adviser. COPIC Financial Service Group and Woodbury Financial Services, Inc. are not affiliated entities.


A 2013 Resolution: Protect your Business from Data Breaches 

Did your organization have a data breach incident in 2012? According to a December 2012 study published by the Ponemon Institute, almost 94 percent of health care organizations suffered a data breach in the past two years. Of those organizations, 45 percent experienced five or more breaches.

As more health care employees are using mobile devices to do their work, and organizations are transitioning to electronic health records (EHRs), the data breach problem is expected only to get worse. About 50 percent of small businesses have rudimentary cyber-security measures in place. Data breaches cost the health care industry approximately $7 billion annually. The personal and emotional damages to patients, such as medical identity theft and regulatory proceedings, can be costly.

There are two important functions of Cyber Coverage:

  1. Liability--includes third-party claims for stolen information during data breaches
  2. First Party--includes forensic and regulatory proceedings as well as litigation and remediation expenses.


These areas are addressed by comprehensive Cyber Liability policies available to you through COPIC Financial Services. Contact Mitch Laycock at (720) 858-6297 for more information to ensure your practice is properly protected.

Long-Term Care Insurance: Helps to Offset the Cost of Extended Care

Most Americans are living longer lives thanks to advances in medicine and preventive care. While that is welcome news, it also means there is an increased risk of living with a chronic health condition that will require extended care. With the average private-pay nursing home stay costing $75,000, a Long-Term Care Insurance policy allows you to offset the high cost of extended care.

What is long-term care?
Long-term care refers to a wide array of medical care, personal assistance and social support services for people who are physically or mentally unable to independently care for themselves for an extended period of time. Long-Term Care Insurance protects individuals against incurring large out-of-pocket expenses by paying affordable premiums. Individual policies are ideal for those who want an increased level of financial protection should they need help performing the activities of daily living due to an accident, illness or injury.

Who should consider Long-Term Care Insurance?
Whether you need Long-Term Care Insurance depends on your age, health status, overall retirement goals, income and assets. According to the Health Insurance Association of America, the average age at which people purchase Long-Term Care Insurance is 62. However, purchasing a policy at a younger age typically means premiums are much more affordable. While you may pay for a longer period of time, taking out a policy around age 50 allows you to enjoy the peace of mind in knowing that you are covered.

What is the cost of long-term care?
According to the MetLife Market Survey of Nursing Home and Assisted Living Costs, long-term care can be costly. The average private pay cost for a home health aide to provide care at home was $21 per hour, or $84 for a four-hour visit. Assisted living rates also averaged $41,724 per year in 2011.

Coverage options
A Long-Term Care Insurance policy covers any or all of the following types of services:

  • Nursing home
  • Assisted living facility
  • Adult day care center
  • Home health care
  • Personal care


Most policies pay a daily maximum benefit and a lifetime maximum benefit. Actual benefits are chosen at the time the policy is purchased. To learn more about your coverage options, potential tax advantages and how a policy can help you to protect your financial future, contact Andrea Levine at (720) 858-6287.

Small Business Solution: Employment Practices Liability Insurance (EPLI)

From the moment you start the pre-hiring process until the exit interview, you are vulnerable for an employment practices claim. Take a hard look at whether your business can afford to defend itself against employment-related accusations. If not, there is an affordable insurance solution called EPLI. This coverage protects directors, officers and employees, and can sometimes extend to third party liabilities.


Why Choose Employment Practices Liability Insurance?
According to the Equal Employment Opportunity Commission (EEOC), there were almost 100,000 filings of discrimination charges filed in 2011. EPLI provides protection from claims of this nature, but did you know it will also cover allegations of the following wrongful employment practices?

  • Harassment
  • Discrimination
  • Actual or alleged wrongful dismissal, discharge or termination
  • Employment-related libel, slander, humiliation, defamation or invasion of privacy
  • Wrongful discipline


Claims Come With High Price Tags
Employment-related claims can be extremely costly, especially in cases that drag on for years. With a slow economy and increasing adoption of worker-friendly laws, these cases are on the rise. Many small businesses cannot afford to pay these costs and keep their company afloat. Check the EEOC's Newsroom for articles on recent cases and settlements.


An Affordable Solution
Fortunately, with employment-based lawsuits on the rise and the economy's sluggish upward climb, EPL coverage is increasingly affordable. More insurers are offering EPL insurance policies with comprehensive coverage to smaller businesses to protect them in tough times. To learn more about EPLI coverage and how COPIC Financial Services can help protect your business, contact Mitch Laycock today at (720) 858-6297.

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!

President, COPIC Financial Service Group
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Copyright 2013 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.