Trust & Investment

Trust & Investments Information Center

Long Term Care

Can you afford long-term nursing care?

Today, many families are shocked when they learn that Medicare may not pay the majority of nursing home bills. In fact, Medicare covers only brief, acute illnesses demanding skilled nursing or rehabilitation. Custodial care, something most people will need provided they live to a ripe old age, isn’t covered and only those with scant assets qualify for Medicaid.

Research by Conte Nast Currency indicates that the average nursing home cost is between $2,000 and $5,000 a month, or $24,000 to $60,000 annually. By the year 2023, this figure is expected to rise to more than $200,000 per year.

For many families, the exorbitant costs associated with nursing homes aren’t the only consideration. Simply deciding whether or not to insure a loved one against the costs of an extended nursing home stay is a stressful and confusing predicament. All too often, seniors or their families make the mistake of not seeking long-term care insurance until they need it. By this time, however, they are largely uninsurable.

Long Term Care Insurance continues to change and improve. Even the federal government is encouraging citizens, through the use of tax incentives, to invest in long-term care insurance.

Contact Randy Teegardin today to help you decide the benefits of a Long Term Care Insurance policy.

Investment Professionals, Inc.

Through a partnership with IPI, Hastings City Bank has access to a full range of brokerage services. We are ready and able to assist you with a wide variety of investment related products and services.

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imageNO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE All Securities and Advisory Services provided under the name HCB Investment Center are offered through Investment Professionals, Inc. (IPI), a Registered Broker/Dealer & Registered Investment Advisor and member FINRA & SIPC. Customers working with HCB Investment Center will be dealing solely through IPI with respect to their investment, brokerage and securities transactions. IPI does not offer or provide legal or tax advice. Please consult your attorney and/or tax advisor for such services. The products offered by Investment Professionals, Inc. are not insured by the FDIC, the NCUA or any other agency of the government, are not deposits or other obligations of a bank or guaranteed by a bank and involve investment risks, including possible loss of principal amount invested.

This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. registered representatives. Investment Professionals, Inc. U.S. registered representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.