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This document is a financial and statistical report required by the State of Illinois for long-term care facilities to disclose information necessary for compliance with statutory purposes, including
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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 from the past year, including income statements and balance sheets.
02
Collect statistical data related to facility operations, such as resident admissions, discharges, and census data.
03
Review regulatory requirements to ensure compliance with state and federal guidelines for financial reporting.
04
Fill out the report template provided by the appropriate regulatory agency, ensuring all fields are accurately completed.
05
Double-check calculations and ensure all figures are correctly totaled.
06
Include any required attachments, such as audited financial statements or supplemental data.
07
Submit the completed report by the designated deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facility administrators
02
State and federal regulatory agencies
03
Financial auditors and accountants
04
Investors and stakeholders interested in the facility's financial health
05
Research organizations analyzing long-term care trends
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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 document that provides detailed financial and operational data about long-term care facilities, including their revenues, expenses, and occupancy statistics.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that participate in Medicare or Medicaid programs 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 report, facilities must gather relevant financial data, including income statements and balance sheets, and input this information into the designated sections of the report as outlined in the instructions provided by regulatory authorities.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the report is to ensure transparency and accountability in the financial operations of long-term care facilities and to provide data necessary for regulatory oversight and policy-making.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
Facilities must report information including total revenues, total expenses, patient care hours, occupancy rates, and other statistical data that reflects the facility's operational performance and financial health.
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