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Healthcare Fraud is on the Rise

Healthcare fraud is likely to increase through October, when the healthcare exchanges created under the Affordable Care Act open to the public. Many of these scammers are using phone calls or email to conduct their fraudulent activities.

Some things to keep in mind:

  • There is no such thing as an Obamacare Card.
  • The Affordable Care Act does not involve any fees up front.
  • You should never give your Social Security number or date of birth to someone who has solicited you in a phone call you were not expecting to receive.
  • The Affordable Care Act does not threaten Medicare benefits. If you are asked to verify your Medicare information by phone, there’s a good chance it’s a scam.
  • When in doubt, don’t click on the link in the email or hang up the phone.
  • You should never hesitate to call your local insurance agency or Medicare representatives to ask questions.

We’re here to answer your questions and point you in the right direction.

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Sara Montgomery

Along with her many friends and colleagues in Camden and around the state, we are mourning the passing Saturday, Aug. 3,  of Sara Montgomery after her lengthy battle with cancer.

Sara was a colleague, leader and friend, and more, to so many.

A native of Camden and a graduate of Camden-Rockport High School and the University of New Hampshire, Sara followed her father, David Montgomery, into the insurance field, starting her career in 1978 with Hartford Insurance. Five years later, Sara came home to Camden to work with her dad at Allen.

As she honed her expertise and the company grew, Sara rose to the post of executive vice president, earning the respect of her colleagues and clients for her smart, friendly-yet-direct way of doing business. Sara was known for going out of her way to get a challenging job done right (and always with a smile).

Sara supervised the human resource, accounting, property, marketing and information technology aspects of our company. She also served the insurance needs of a large number of business clients.

Sara was a Camden Rotarian and a Paul Harris Fellow. She was involved in many charitable efforts in our community, most notably the American Cancer Society’s Relay for Life, the Ragged Mountain Recreation Area Redevelopment, the Pen Bay Healthcare Foundation and United Mid-Coast Charities.

There is so much more to Sara than her list of accomplishments — she was about the people and places she loved, always making sure to express her love and appreciation for them.

A celebration of life is scheduled for Thursday, Aug. 22 at 3 p.m. at the Camden Snow Bowl.

Memorial gifts in her memory may be made to the Ragged Mountain Recreation Area Foundation, P.O. Box 438, Camden, ME 04843. Condolences and memories may be shared with the Montgomery family by visting their book of memories at longfuneralhomecamden.com.

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Weekly Market Update – 7/29/2013

The 10-year Treasury yield was down to 1.62 percent late last week before moving back to 2.55 percent, which was closer to where it had started the week. We expect a quiet start to this week as we wait for remarks from this Wednesday’s Federal Open Market Committee (FOMC) meeting. Read more in this PDF.

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Jo-Ann Neal Joins Our Group Benefits Division

Jo-Ann Neal has joined Allen Insurance and Financial as an employee benefits account manager. She will be based in the company’s offices on Chestnut Street in Camden.

Jo-Ann Neal

Jo-Ann Neal

Jo-Ann brings 10 years of human resources and benefit administration experience to Allen; valuable experience as the company’s benefits department works with businesses all over Maine at a time of great change for the way businesses administer health insurance for their employees.
“I’m happy to be part of the Allen team,” said Jo-Ann. “Especially as the start of the Affordable Care Act moves closer, I’m learning new things and working to be a valued resource for Allen’s clients when they need it most.”
Jo-Ann and her husband Kelley, a contractor, live in Nobleboro. They have two grown daughters. Outside of work, Jo-Ann enjoys camping with her husband as well as reading, quilting and making stained glass.

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Weekly Market Summary – 7/15/13

Treasuries rallied at the end of last week after the 10-year touched a high of 2.73 percent. Federal Reserve Chairman Ben Bernanke’s speech on Wednesday calmed markets and gave investors more confidence that the tapering of asset purchases was unlikely to occur during 2013. Read More Now.

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Michael Pierce Attends Financial Advisor Conference

Michael Pierce

Michael Pierce, president of Allen Insurance and Financial, joined a select group of financial advisors invited to participate in Commonwealth Financial Network®’s President’s Club, June 18–23, 2013, at the Montage Deer Valley in Park City, Utah. Qualification is based on a ranking of annual production among Commonwealth’s network of financial advisors.

Throughout the conference, a variety of business meetings and sponsor presentations allowed attendees to gain key insights and recommendations from industry leaders. Significant time was also dedicated to networking sessions. Overall, emphasis was placed on financial advisors’ ability to provide the highest level of service and value to their client base.

“Attending this conference was extremely beneficial to my continued learning” said Pierce. “Through the formal sessions and networking opportunities that were offered, I gained knowledge that will help me manage my firm and better serve my clients.”

About Allen Insurance and Financial
Allen Insurance and Financial provides individuals and organizations with financial guidance. Located at 31 Chestnut St. in Camden, Maine, the advisors of Allen Insurance and Financial pride themselves on crafting unique strategies for each client. For more information, please visit www.allenfg.com. Securities and Advisory Services offered through Commonwealth Financial Network®, Member FINRA, SIPC, a Registered Investment Adviser. Fixed insurance products and services and employee benefit services offered by Allen Insurance and Financial are separate and unrelated to Commonwealth.

About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer–RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. J.D. Power and Associates ranks Commonwealth ‘Highest in Independent Advisor Satisfaction among Financial Investment Firms, Three Times in a Row.’ The firm supports more than 1,450 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit www.commonwealth.com.

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Weekly Market Update – 7/11/2013

The yield on the 10-year Treasury was as high as 2.73 percent on Monday morning, after a volatile Friday, when it ended the day at 2.74 percent.

Trading volume may have been low during the holiday-shortened week, but the equity markets made a strong push higher on Friday after a better-than-expected payroll report. The S&P 500 climbed 1.63 percent, but the small-cap Russell 2000 Index was the strongest performer with a gain of 2.87 percent.

Read more now.