Thursday, December 29, 2005

Medicare Prescription Drug Coverage

Beginning January 1, 2006, prescription drug coverage will be available to all Medicare recipients. You can help your friends and family members enrolled in Medicare consider this important new benefit by making certain they have the necessary information about it and how to enroll. Enrollment started November 15, 2005 and will run through May 15, 2006.

If you have a family member or friend whom you would like to assist through this decision-making process, there are five simple steps you should follow:

Understand the basics of Medicare Prescription Drug Coverage
Determine how your friend or family member gets prescription coverage today
Gather some important information
Review the plan choices
Point out to them how to enroll

Additional information about the new Medicare Prescription Drug Coverage, including a webcast of a television program that recently aired on CNBC entitled the "National Day of Conversation: Friends and Family First," can be obtained online by visiting www.medicare.gov or by calling 1-800-MEDICARE (1-800-633-4227) or TTY 1-877-486-2048. Operators are available 24/7 and can walk you, your friend, or your family member through the Plan Finder and provide personalized help in comparing and choosing a plan.

Wednesday, December 28, 2005

2005 -- Year of Challenges and Accomplishments

In its 75th year, The McLaughlin Company took significant strides to better serve its clients, and to prepare itself for the rapidly evolving world of Risk Management and Insurance. Besides the daily challenges of meeting and placing its clients insurance needs, The McLaughlin Company prepared for the future in several significant areas:

Union Liability Insurance – The McLaughlin Company negotiated with the carriers of this insurance product several improvements in the policies including the ability of the insured to select its own counsel, broader coverage, and reduced premiums for Individual Labor Leaders. This product is essential to a Union in these days of heightened scrutiny by DOL, privacy concerns about Union membership lists, and the plethora of employment related practices claims.
Creative Risk Management – The Sarbanes – Oxley Act of 2002 has had a tremendous impact on an enterprises’ risk management function. Enterprises have an obligation to establish and maintain an adequate internal control structure and assess annually its internal controls. Lack of controls in certain insurance areas can lead to financial mistatement. Creative Risk Management, a division of The McLaughlin Company, is fully staffed to provide risk management services to new and existing clients.
Workers Compensation Insurance – This year, The McLaughlin Company, partnered with a database company to assist it in analyzing our client’s workers compensation claims. This database has proven to reduce many workers compensation premiums by 30 percent and insure that a client is never overpaying for workers compensation insurance.

Interactive Website – In 2005, The McLaughlin Company’s website received a completely new facelift. This new website allows existing clients to fill out applications on-line, provides an immediate vehicle for visitors to access up to date information on insurance products and trends in the industry, and gives new clients immediate availability to a trained insurance professional.
New Markets – This year, The McLaughlin Company, added several new insurance companies to its already long list of outstanding companies it represents. It has also developed markets for difficult to place coverages such as political organizations, technology companies, training funds, i.e. Finally, as markets tightened for some products The McLaughlin Company partnered with insurance companies to insure that its clients would always have certain products available. When there is a difficulty getting insurance coverage, The McLaughlin Company is the place to go.
Employee Benefits – In 2005, The McLaughlin Company entered into an association with a team of specialists in the area of employee benefit programs, group and individual life, health and disability programs. The McLaughlin Company is able to provide its clients significant savings and expertise in designing employee benefit programs.
Identity Theft – The McLaughlin Company saw a need for its personal lines clients to protect them when they become victims of identity theft. Through a program with St. Paul/Travelers every McLaughlin Company personal lines client is provided identity theft coverage free of charge.

The McLaughlin Company has a rich history of looking for better ways to provide service and products for new and existing clients. The year 2006 will present new challenges and we are prepared to meet them.