Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois

This document reports financial and statistical data required by the State of Illinois for long-term care facilities, detailing ownership, expenses, and services provided over the fiscal year.

How to fill out financial and statistical report

How to fill out Financial and Statistical Report for Long-Term Care Facilities

1. Gather all necessary financial documents, including income statements, balance sheets, and operational expense records.
2. Understand the guidelines and requirements set by regulatory authorities for filling out the report.
3. Compile data related to patient statistics, including occupancy rates, lengths of stay, and demographic information.
4. Fill in the financial sections of the report, ensuring that all figures are accurate and up-to-date.
5. Complete the statistical sections with the appropriate data, ensuring consistency and correctness.
6. Review the report carefully for any errors or omissions before final submission.
7. Submit the completed report to the designated regulatory agency by the specified deadline.

Who needs Financial and Statistical Report for Long-Term Care Facilities?

1. Long-term care facility administrators who need to report financial performance.
2. Regulatory agencies that require oversight and compliance with financial reporting standards.
3. Financial analysts and stakeholders interested in the fiscal health of long-term care facilities.
4. Researchers and policymakers looking to access data on long-term care operations and their financial impacts.

People Also Ask about

What percentage of people age 75 to 84 live in nursing homes?

ing to their national study of long-term care providers: 38.6% of nursing home residents are older than 85. 26.7% of residents are between 75 and 84.

What percentage of people with long-term care insurance actually use it?

So, 35% will use their coverage and 65% will not. As you might assume, the decline is because during those first 90 days, some people will recover and some will die.

What is the financial impact of long-term care in the United States?

In the U.S., long-term care costs individuals and their families thousands of dollars annually, with nursing home care often costing more than $100,000 a year (Exhibit 1). Given that many who use these services will need it for at least one year, costs can quickly become burdensome.

What is the average daily rate for long-term care?

ing to Genworth's estimates, the median cost of a private room in a nursing home is $339 per day or $10,326 per month in 2025. Semiprivate rooms are more affordable, with a median cost of $302 per day or $9,197 monthly.

How much does a home nurse cost per day?

Homemaker Services Costs By State StateHome Care Median Hourly RateHome Care Daily Rate / 8 hours California $38.19 $240 Colorado $37.13 $233 Connecticut $32.89 $207 Delaware $25.46 $16048 more rows

What does long-term care cost per day?

Consider the national median costs for long-term care services²: $255 a day(or $7,756 per month) for a semi-private room in a nursing home. $290 a day (or $8,821 per month) for a private room in a nursing home. $141 a day (or $4,300 per month) in an assisted living facility.

How much does Medicare pay for long-term nursing home care?

Long-term care Long-term supports and services can be provided at home, in the community, in assisted living, or in nursing homes. Individuals may need long-term supports and services at any age. Medicare and most health insurance plans don't pay for long-term care.

What are typical long-term care premiums?

How much is long-term care insurance? ing to the 2024 American Association for Long-Term Care Insurance (AALTCI) annual Price Index survey, the average annual premium for a $165,000-benefit policy with no inflation protection is $950 for a single male (age 55) and $1,500 for a single female (age 55).

For pdfFiller’s FAQs

What is Financial and Statistical Report for Long-Term Care Facilities?

The Financial and Statistical Report for Long-Term Care Facilities is a comprehensive document that summarizes the financial operations, statistical data, and performance metrics of long-term care facilities, such as nursing homes, to ensure accountability and transparency in their operations.

Who is required to file Financial and Statistical Report for Long-Term Care Facilities?

All licensed long-term care facilities, including nursing homes and similar entities, are typically required to file the Financial and Statistical Report to comply with federal and state regulations.

How to fill out Financial and Statistical Report for Long-Term Care Facilities?

To fill out the Financial and Statistical Report, facilities must gather accurate financial data, including income, expenses, and resident statistics. They then complete the designated forms, following specific guidelines and instructions provided by regulatory authorities, and submit the report by the established deadlines.

What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?

The purpose of the Financial and Statistical Report is to provide regulatory bodies with insights into the financial health and operational performance of long-term care facilities, enabling oversight, policy-making, and ensuring quality care for residents.

What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?

The report must include information such as total revenue, total expenses, patient days, occupancy rates, staffing levels, and other key performance indicators relevant to the operation and financial stability of the facility.