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Rocked by pandemic, long-term care facilities face financial crisis [Video]

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After months of battling the deadly coronavirus that claimed the lives of 17 residents, St. John's Retirement Village was forced to close its doors in the middle of the pandemic.

The 48-bed nursing home in Woodland, California, could not keep up with rising expenses, including the protective equipment, testing costs and payroll necessary to maintain round-the-clock care. The dire situation forced Sean Beloud, the executive director, to make the "devastating" decision to close the nursing home in September in an effort to save the assisted living facility located on the same campus.

"The numbers were just not adding up," Beloud said. "We were losing money and it was the only way to save the rest of the campus."

St. John's is among the hundreds of long-term care facilities, from large chains to small independent businesses, that are facing a financial crisis due to the skyrocketing costs of fighting the pandemic — with some closing their doors and …

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The Importance of Diversification [Video]

Join Matt & Jason to explore the importance of diversification of assets, with an overview of the solutions that EquiTrust Life Company offers, to create a solid base for your client. We will also discuss the importance of Roth IRA conversions in a rising tax environment.Don't miss your chance to ramp up your sales in 2021 with these fantastic uncapped strategies and cutting edge sales ideas!