Financial Focus Header
CONTACT US
John Hood
Director
(720) 858-6288

Mike Edwards
 Dir. of Financial Services
(720) 858-6289

John Kaufman
Account Executive
(720) 858-6287

Mitch Laycock
Account Executive
(720) 858-6297

Jeff Feakes
Account Executive
(720) 858-6285
______________________
Everyone wants financial security, and FSG's Financial Planning Team can help you achieve this. Whether it's investment/retirement planning, estate planning, or disability/life insurance, our team provides trusted advice with the goal of protecting and growing your assets. Contact Mike Edwards at (720) 858-6289 or Jeff Feakes at
(720) 858-6285 to learn how we can help.
Financial Focus Archive! 
Newsletter image  
Did you miss a previous edition of the Financial Focus? Fear not! Our website includes  a full archive of past newsletters. Get caught-up today!
______________________
Need workers' comp and employee benefits, while also considering a PEO option? We can help!

We've teamed up with Bene-Fit Solutions to provide competitive rates for worker's comp and employee benefits, while also providing the convenience of a PEO. For more information, please contact Mitch Laycock or John Kaufman.
______________________
______________________
Helpful Links
______________________


Like us on Facebook

View our profile on LinkedIn
In This Issue: November 2018
Welcome John Hood
PEOs: 5 Areas to Ease Administrative/Compliance Burdens
4 Tips for Long-Term Care Planning
A New Way to Manage Workers' Compensation Billing
Using Life Insurance Riders to Pay for Long-Term Care
Welcome John Hood
We are pleased to announce John Hood has joined COPIC as the new Director of COPIC FSG. He joined the team in August with a wealth of insurance and agency experience, and looks forward to meeting with clients as he settles into his new role.

"I am excited to have joined the exceptional staff at COPIC and look forward to continuing FSG's commitment to protecting and improving our customers' lives." ----John Hood
PEOs: 5 Areas to Ease Administrative/Compliance Burdens
Payroll and human resources duties can exhaust even the most savvy of office managers. That's why many small businesses have started utilizing professional employer organizations (PEOs) for these services.

Alongside outsourcing payroll and HR responsibilities (administrative, compliance, etc.), there is often a need for support with workers' compensation and employee benefits. Understanding these pain points, FSG has teamed up with a vetted PEO to serve our clients while we continue to broker customized employee benefit plans and workers' compensation coverage.

Together with Bene-Fit Solutions, COPIC FSG can help you address:

  • Comprehensive payroll processing, including tax filing, employee withholdings, benefit deductions, and customized reporting.
  • Human resource services, including offer letters, background checks, employee records maintenance, job descriptions, performance evaluations, employee termination assistance, and unemployment claims responses.
  • Benefits administration, including single source enrollment, file transmittal, online open enrollment, administration, employer/employee web access, reconciliation, and reporting.
  • Workers' compensation insurance and safety services, including creation and implementation of safety programs, development of a customized safety manual, OSHA compliance assistance, claims management, payroll reporting, and workers' compensation audits.  
Contact  John Kaufman  at (720) 858-6287  for more information about PEOs and how COPIC FSG can minimize the administrative pain points of running a practice and business.
4 Tips for Long-Term Care Planning
Have you thought about what would happen if you needed care for several months or for many years? The associated costs can threaten a lifetime of savings, and providing care can place a significant emotional and physical burden on a spouse and family members that many would like to avoid.

Use these tips to plan for your long-term care needs and options: 
  1. Know when to start planning: Obtaining long-term care insurance (LTCI) at a younger age often allows for discounts and lower premiums compared to when you're older. 
  2. Save by sharing some of the risk: Similar to other insurance policies, opting for a higher deductible on a LTCI product can reduce the cost of your premiums. 
  3. Value the "Pool of Money" Model: LTCI policies pay benefits for as long as dollars remain available in your pool. You can extend the life of your policy by not using the full daily/monthly benefit, as any unused portion remains in your pool. 
  4. Consider options to deal with rising costs: For example, buy a larger initial benefit up front, choose the guaranteed purchase options, or purchase cost-effective inflation protection options. 
Read more about these tips in this guide from the American Association for Long-Term Care Insurance and contact Jeff Feakes at (720) 858-6285 for more information while considering your long-term care planning needs and options.
___________________________________________________________
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 New Way to Manage Workers' Compensation Billing
Workers' compensation payments are traditionally estimated based on payroll projections for the year, which can lead to over- or under-payments and the potential for costly post-audit adjustments.

Some insurance companies, like The Hartford, are working to improve this experience for insureds by introducing XactPAY®, a pay-as-you-go billing option that uses real-time payroll information to calculate monthly premiums. The chart below displays the difference between traditional workers' compensation billing and the pay-as-you-go option:
Comparison Chart

Interested to learn further details about how these types of programs work? Contact Mitch Laycock at (720) 858-6297 to discuss your coverage options and find a policy that best fits your situation.

Using Life Insurance Riders to Pay for Long-Term Care
If you're thinking about buying a stand-alone long-term care insurance (LTCI) policy, you might have another option. An increasing number of states are permitting the sale of long-term care hybrid products that allow you to obtain coverage with a special rider (provision that amends coverage terms) added on to your life insurance policy. This may be an option to consider when the premiums on a stand-alone LTCI policy are costly due to your current age and health, or the benefits offered. A long-term care rider may be a plausible middle-ground solution and it allows you to tap into funds in the future should you need long-term care.

It is important to note that opinions vary on whether using a special rider or getting a separate LTCI policy is the best option. The answer depends on a variety of factors such as the size of your life insurance policy, the money you'll receive while the policy is in force to pay your long-term care costs, and how much long-term care is expected to cost at the time you'll need it.

Read the article from Woodbury Financial, Using Life Insurance Riders to Pay for Long-Term Care, and contact Mike Edwards at (720) 858-6289 for more information about these types of policies while  considering your long-term care planning needs and options.
___________________________________________________________
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.

Even if you are not currently in the market for insurance products, we are always available to assist you in getting the best coverages at the best prices. Call us at (720) 858-6280!
FSG Logo

Please add us to your "safe-senders" list! Add jhood@copic.com to your address book to ensure that our messages to you don't get stuck in your spam filter!

Copyright 2018 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.