Workplace accidents can be traumatizing for all those involved. However, by conducting an accident investigation, you will be able to recognize hazards and improve working conditions. Don’t be fooled… they are not designed to place blame or fault, so it is important that you cooperate to ensure that a similar accident does not occur in the future.

If you see an accident, note everything that occurred and the conditions that were present before the incident. Then, ask yourself:

• Where was I working in conjunction with the accident site?

• What about other employees?

• What was I doing at the time?

• What was the injured person doing and where were they located?

• What equipment was being used?

• What sequence of events occurred?

When questioned, give a truthful account of the event, as you saw it. Do not omit information to protect others. This will not assist in determining the cause of the accident or prevent future problems.

DID YOU KNOW?
Safety meetings not only reduce the risk of injury, they also reduce insurance costs because the incidence of injury lessens. Now that’s a win-win for everyone!

According to a study by the Commonwealth Fund, 66% of baby boomers ages 50 to 65 are concerned about being able to afford medical care in the future.

This day-to-day reality is beginning to impact their retirement plans as well. As Commonwealth puts it, “The combination of rising out-of-pocket health care costs and sluggish wage growth threatens workers’ ability to save for retirement. This is particularly true for older adults ages 50 to 65, or ‘baby boomers,’ whose per capita health care expenditures are more than twice those of younger adults.”

The bottom line? Baby boomers need to educate themselves and become more savvy about health care. It is crucial to ensure they have the financial tools that work for them instead of against them.

Something to keep in mind: A traditional policy has high premiums that are never seen again. A climbing deductible and higher co-pays make this a black hole as far as investments go. But a high deductible health plan combined with an HSA have many benefits that are particularly attractive to this age group.  Some advantages include:

• Lower premiums – This means there is more cash to invest in the HSA, and to eventually put toward the deductible.
• Portability – In case one’s employment situation changes, he/she keeps the HSA and has the benefit of past investments.
• Tax-free savings with tax-free interest – In fact, HSA accounts offer more favorable terms than IRAs in terms of saving for retirement health needs.
• The Catch-up Contribution – This is an extra fund that people ages 55 to 65 can stow away in their HSA. For 2009, it is $1,000.

Even more promising is the fact that most of these older adults are willing to save if the right financial mechanism comes along. As Commonwealth reports, “A substantial majority of older adults in working families (71%) said they would be interested in having one percent of their earnings deducted from their paychecks and placed into an account, which could later be used to pay for long-term care or other health services that Medicare does not cover.” Education will be key, but consumer-driven health care has a lot to offer baby boomers, both now and in the future.

Dear Friend,

I'm very pleased to present the first issue of InSight — our new quarterly eNewsletter. We hope you will find it informative and useful when it comes to making decisions on insurance and risk management.

I would also like to take this opportunity to thank all our customers and business associates for making CLG what it is today. Last year, we started several new customer service and marketing initiatives with the aim of connecting with our customers more often. This newsletter is one way we are reaching out. I hope you will respond and make it a two-way conversation.

Since this is our first issue, I would also appreciate any comments, ideas or suggestions you may have on making it better.

Have a great summer!


Edward F. Carpezzi
President & CEO
CLG Insurance