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This document is a financial and statistical report required for long-term care facilities in Illinois, detailing their operational data, expenses, and relevant financial information for the fiscal
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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 necessary financial documents, including revenue reports, expense reports, and any other pertinent financial data.
02
Understand the reporting period for the financial report, whether it is monthly, quarterly, or annually.
03
Fill out each section of the form, ensuring you provide accurate numbers for revenues, expenses, and operating costs.
04
Include any statistical data required, such as resident census information, staffing levels, and occupancy rates.
05
Review the form for completeness and accuracy before submission.
06
Submit the completed report to the designated authority or agency by the specified deadline.
Who needs Financial and Statistical Report for Long-Term Care Facilities?
01
Long-term care facilities that receive federal or state funding.
02
Regulatory agencies that monitor the financial health and compliance of long-term care providers.
03
Management teams within long-term care facilities for internal financial assessment.
04
Stakeholders and investors interested in the financial performance of the facility.
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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 standardized report that collects financial and operational data from long-term care providers to ensure compliance with state and federal regulations, facilitate quality assessments, and inform policy decisions.
Who is required to file Financial and Statistical Report for Long-Term Care Facilities?
Long-term care facilities that receive Medicaid or Medicare funds are generally required to file the Financial and Statistical Report. This includes nursing homes, assisted living facilities, and any other licensed long-term care providers.
How to fill out Financial and Statistical Report for Long-Term Care Facilities?
To fill out the Financial and Statistical Report, facilities should gather relevant financial and operational data, follow the provided guidelines and templates, ensure accuracy by cross-referencing with internal records, and submit the completed forms to the designated regulatory body by the specified deadline.
What is the purpose of Financial and Statistical Report for Long-Term Care Facilities?
The purpose of the Financial and Statistical Report is to provide transparency and accountability in the financial operations of long-term care facilities, support regulatory oversight, and use the collected data to enhance the quality of care provided to residents.
What information must be reported on Financial and Statistical Report for Long-Term Care Facilities?
The report must include financial information such as revenue and expenses, staffing levels, occupancy rates, and operational statistics, as well as any relevant demographic information about the facility's residents and services provided.
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