The answer to your question is yes.

To be able to use magicJack and Skype at the same time on your PC you will need the "Skyjackplugin" software plugin that can be downloaded at http://www.pcphonesoft.com .

To place Skype calls just dial * before the number you want to call. Speed dial numbers are used for dialing other Skype users. Regular magicJack calls are placed as normal. For incoming calls, just answer the phone when it rings.