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This document is a financial and statistical report required for long-term care facilities in the state of Illinois, detailing revenues, expenses, occupancy rates, and other pertinent financial data
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How to fill out financial and statistical report
How to fill out Financial and Statistical Report for Long-Term Care Facilities
01
Gather necessary financial documents including income statements, balance sheets, and cash flow statements.
02
Review the guidelines provided by the relevant authority for completing the report.
03
Fill out the facility identification section with accurate details such as the facility name, address, and ownership information.
04
Complete the financial section by entering data related to revenue, expenses, and assets in the designated fields.
05
Document any statistical data required, such as resident census and staffing levels.
06
Verify that all calculations are correct and that financial figures are accurately reported.
07
Include any additional notes or explanations if required by the reporting guidelines.
08
Review the entire report for completeness and accuracy before submission.
09
Submit the report by the designated deadline established by the reporting authority.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
State regulatory agencies responsible for monitoring the financial health of long-term care facilities.
02
Facility administrators and finance departments for internal assessment and planning.
03
Auditors who review the financial compliance of long-term care facilities.
04
Potential investors or stakeholders who require financial performance data.
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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).
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What is Financial and Statistical Report for Long-Term Care Facilities?
The Financial and Statistical Report for Long-Term Care Facilities is a document that collects financial and operational data from long-term care facilities to assess their performance and financial viability.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities, including nursing homes and other residential care facilities that receive public funding or are licensed by the state, are generally required to file the Financial and Statistical Report.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities must gather their financial records, operational statistics, and complete the report form as per the provided guidelines, ensuring all required sections are accurately filled out.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to provide regulators and stakeholders with a comprehensive view of the financial status and operational efficiency of long-term care facilities, aiding in policy-making and resource allocation.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report typically requires information such as revenue and expenses, patient demographics, occupancy rates, staffing levels, and other relevant operational statistics.
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