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This document provides a comprehensive financial and statistical overview for long-term care facilities in Illinois, detailing ownership information, operational data, expenses, and related compliance

How to fill out financial and statistical report

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

1. Gather all necessary financial documents such as income statements, balance sheets, and expense reports.
2. Collect statistical data including the number of residents, staff turnover rates, and occupancy rates.
3. Review guidelines and requirements provided by the regulatory body or funding agency for the report.
4. Fill in the financial sections, providing accurate figures for revenue, expenses, and any grants or funding received.
5. Complete the statistical section with accurate data reflecting the operations of the facility.
6. Double-check all entries for accuracy and completeness before submission.
7. Maintain a copy of the completed report for your records.

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

1. Long-term care facilities that receive government funding or seek to maintain compliance with regulatory requirements.
2. Administrators and financial officers within these facilities for budgeting and financial planning.
3. State and federal agencies that monitor and evaluate the performance of long-term care facilities.
4. Advocacy groups and researchers studying trends in long-term care and financial health of these facilities.

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 required submission that provides a comprehensive overview of the financial performance and statistical data of long-term care facilities, including their operational efficiency, revenue, expenses, and resident demographics.

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

All licensed long-term care facilities, such as nursing homes and assisted living facilities, are required to file the Financial and Statistical Report to ensure compliance with state and federal regulations.

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

To fill out the report, facilities should gather and organize financial data, such as income, expenses, resident counts, and staffing information. They must then accurately complete each section of the report form based on the collected data, ensuring that all figures are substantiated and comply with guidelines.

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

The purpose of the report is to provide regulatory authorities with important insights into the financial health and operational statistics of long-term care facilities for oversight, funding decisions, and policy development.

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

The report must include information such as total revenues, total expenses, the number of residents, occupancy rates, staffing levels, and demographic data on residents, as well as any additional financial metrics as required by regulatory agencies.