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This document is a financial report for long-term care facilities in Illinois, detailing financial and statistical information required by the Illinois Department of Public Aid for compliance with
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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 required financial data, including income, expenses, and funding sources.
02
Review the previous year's report for reference and consistency.
03
Fill out each section systematically, ensuring accuracy in reported figures.
04
Include statistical data such as occupancy rates, staffing levels, and patient demographics.
05
Double-check all calculations and entries to avoid discrepancies.
06
Ensure compliance with state and federal reporting guidelines.
07
Submit the completed report by the designated deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities seeking funding or compliance with regulatory requirements.
02
Government agencies monitoring care quality and financial health of facilities.
03
Stakeholders including investors, healthcare partners, and community organizations.
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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).
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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 comprehensive document that collects financial and statistical data from long-term care facilities to ensure compliance with regulations and to provide insights into their operations and performance.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities, including nursing homes and assisted living facilities, are typically required to file the Financial and Statistical Report if they receive funding from government programs or are regulated by state health departments.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities should gather accurate financial records, patient statistics, and operational data. The report usually includes sections for income, expenses, patient demographics, and services provided, which need to be completed based on the reporting period guidelines provided by regulatory authorities.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the Financial and Statistical Report is to ensure transparency in financial practices, to monitor the quality of care provided, and to assess the financial health of long-term care facilities. It also helps policymakers in planning and resource allocation.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include information such as total income, operating expenses, number of residents, patient care services provided, staffing levels, and any additional relevant financial metrics, as required by state or federal regulations.
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