Get the free Financial and Statistical Report for Long-Term Care Facilities - hfs illinois
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This document serves as a financial and statistical report required by the State of Illinois for long-term care facilities, detailing operational expenses, revenues, and statistical data for the reporting
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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 all financial data, including income, expenses, and balance sheets for the reporting period.
02
Organize statistical data such as the number of residents, staff, and services provided during the reporting period.
03
Review any applicable guidelines or regulations specific to long-term care facilities regarding reporting requirements.
04
Fill in all sections of the Financial and Statistical Report accurately, ensuring that all numbers are supported by your collected data.
05
Cross-check entered data for accuracy and completeness.
06
Submit the completed report to the appropriate regulatory agency by the deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities (nursing homes, assisted living facilities) that are required to report financial and statistical data.
02
State and federal regulatory agencies overseeing long-term care facilities.
03
Financial analysts and stakeholders interested in the operational performance of long-term care facilities.
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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.
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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 standardized reporting tool used to capture the financial and operational information regarding long-term care facilities. This report helps in assessing the financial health and performance of these facilities.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
All licensed long-term care facilities, including nursing homes and assisted living facilities, are required to file the Financial and Statistical Report with relevant regulatory agencies.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities must gather financial data and statistical information for the reporting period, complete all sections of the form accurately, and submit it to the appropriate state or federal agency by the designated deadline.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to provide regulatory agencies with comprehensive financial and operational data that assists in monitoring facility performance, ensuring compliance, and evaluating the quality of care provided to residents.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report typically includes data on revenues, expenses, occupancy rates, resident demographics, staffing information, and other pertinent financial statistics that reflect the operation of the facility.
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