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This document serves as an annual financial and statistical report submitted by long-term care facilities in Illinois, detailing various operational, financial, and statistical data over the reporting

How to fill out financial and statistical report

How to fill out FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES

1. Gather necessary financial documents including budgets, income statements, and balance sheets.
2. Review the reporting period to ensure that all data is relevant and up to date.
3. Fill out each section of the form, starting with basic facility information such as name, address, and contact details.
4. Input financial data in the designated fields, making sure to double-check accuracy.
5. Include statistical information on resident demographics, services provided, and staffing levels.
6. Provide any required supporting documentation as appendices to the report.
7. Review the completed report for completeness and accuracy before submission.
8. Submit the report according to the specified guidelines, ensuring it is sent to the correct authority.

Who needs FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

1. Licensed long-term care facilities are mandated to submit this report.
2. Facility administrators and financial officers responsible for financial compliance.
3. State and local health departments that track facility performance and funding.
4. Researchers or auditors needing data for analysis of long-term care services.

People Also Ask about

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 largest source of financing LTC?

Medicaid — a government program that helps cover medical costs for people with limited income and assets — is the major source of funding for LTC in the United States.

What is the average monthly cost of long-term care?

Cost of care trends and insights Type of service and rate type2024 national median values2023 national median values Adult day health care Daily $100 $95 Assisted living community Monthly $5,900 $5,350 Nursing home semi-private room Monthly $9,277 $8,669 Nursing home private room Monthly $10,646 $9,7332 more rows

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).

How much does long-term care cost per month?

Cost of care trends and insights Type of service and rate type2024 national median values2023 national median values Adult day health care Daily $100 $95 Assisted living community Monthly $5,900 $5,350 Nursing home semi-private room Monthly $9,277 $8,669 Nursing home private room Monthly $10,646 $9,7332 more rows

What is the average cost of long-term care in the US?

In the United States, long-term care costs between $35,000 and $108,000 a year in 2021. Out of the three different types of long-term care we compared, private rooms in nursing homes are the most costly, with an average of $108,405 a year.

Will Medicare pay for a long-term nursing home?

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.

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 provides a detailed overview of the financial status and operational statistics of long-term care facilities. It is designed to capture essential financial data, facilitating the assessment of the facility's economic health and compliance with regulatory requirements.

Who is required to file FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

Long-term care facilities that receive funding from Medicaid or Medicare are typically required to file the Financial and Statistical Report. This includes nursing homes and other similar establishments that provide extended care services.

How to fill out FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

To fill out the Financial and Statistical Report, facilities must carefully gather financial data such as revenue, expenses, patient statistics, and operational details. The report often follows a specific template provided by the relevant governing body, requiring organizations to input accurate figures and ensure compliance with reporting standards.

What is the purpose of FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

The purpose of the Financial and Statistical Report for Long-Term Care Facilities is to provide transparency in financial dealings, ensure accountability, and help government agencies monitor the financial viability and quality of care provided by these facilities. It also aids in budget planning and operational improvements.

What information must be reported on FINANCIAL AND STATISTICAL REPORT FOR LONG-TERM CARE FACILITIES?

The report must include various types of information such as total revenues, total expenses, profit and loss statements, census data (number of residents), staffing levels, and any additional financial metrics relevant to the facility's operation.