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This document serves as a financial and statistical report for long-term care facilities in Illinois, detailing the facilities' operations, financial performance, and compliance with state regulations
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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 records required for the reporting period, including income statements and expense reports.
02
Identify the required fields in the Financial and Statistical Report form. These typically include revenue sources, operating expenses, and capital expenditures.
03
Carefully input data into the form, ensuring that all financial figures are accurate and correspond to the collected records.
04
Fill out the statistical sections, which may require data on resident counts, staff numbers, and service utilization statistics.
05
Review the completed report for accuracy and completeness, ensuring that all necessary documentation is attached.
06
Submit the report by the specified deadline to the appropriate regulatory agency.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities that receive funding from government programs or need to comply with regulatory requirements.
02
Administrators and financial officers of these facilities for budgeting, planning, and compliance purposes.
03
Policy makers and oversight agencies that monitor the performance and financial health of long-term care services.
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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 document that provides financial data and operational statistics of long-term care facilities, helping regulators and stakeholders assess the facility's performance and financial health.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive state or federal funding are typically required to file the Financial and Statistical Report, which includes nursing homes, assisted living facilities, and other similar establishments.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities must gather relevant financial documents, follow the provided guidelines including reporting periods, and input data into the required fields accurately, ensuring all required information is included.
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 management, facilitate funding allocation, improve facility operations, and provide essential data for regulatory oversight.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include information such as revenue sources, expenses, patient care statistics, staffing levels, occupancy rates, financial performance metrics, and other relevant operational data.
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