Saturday, October 1, 2022

Nursing Homes For Sale In Illinois

Medicaid For Illinoisans In Supportive Living Facilities

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Supportive living facilities provide apartment-style room and board, therapy and nursing services, and supervision. SLFs are generally less expensive and less medically intensive than nursing homes. In Illinois, SLFs are specially licensed and monitored.

Illinois operates a Medicaid waiver program called the Supportive Living Program to pay for some of the costs of supportive living facilities.

To qualify for SLP, you must be 65 or over or an adult with a physical disability. If you have a primary or secondary diagnosis of developmental disability or serious and persistent mental illness, then you will not qualify for SLP. You must require the nursing home level of care.

If you qualify, then SLP will pay for many of the services that you can receive in an SLF, like personal care services, housekeeping, meals, exercise programs, medication supervision, and temporary nursing care. You must pay the room and board fee for the living facility. You must have monthly income that is equal to or greater than the SSI amount to qualify for this program. In 2019, that is $771 per month.

If you are eligible for SLP, you will need to pay almost all of your monthly income to the facility. SLF residents are allowed to keep $90/month as a personal needs allowance.

To apply for SLP, contact a participating facility directly, and the facility will help you get the appropriate assessments and paperwork done.

Skilled Nursing Home Care: Everything You Need To Know

When your senior loved one is dealing with a health condition which requires proper medical support, in-home care, or assisted living communities may not suffice. In this case, you can consider moving them to a fully-staffed and monitored skilled nursing facility.

As providers of long-term medical care, nursing home care provides the required level of medical support to residents, while improving their health and quality of life.

However, there are many homes to choose from, especially in metropolitan areas. Thus, finding the best one for your elderly parent or grandparent can be challenging. It is recommended that you learn as much as possible about the nursing home care before deciding on a skilled nursing home for your senior.

Important factors in finding the right nursing home care are the location of the nursing home, cost, type of care they specialize in, services and amenities provide, and much more. It is recommended that you include an in-depth site visit when selecting a nursing home for a family member. Choose a nursing home that best fits your budget and needs of seniors.

Good Sam Sells Three More Skilled Nursing Facilities In Illinois Iowa

    The Evangelical Lutheran Good Samaritan Society continues to strategically trim its post-acute portfolio, selling off a trio of skilled nursing campuses along the Illinois-Iowa border.

    The three properties had a total of 214 skilled nursing beds and 65 independent and senior living apartments, according to Blueprint Healthcare Real Estate Advisors which brokered the deal on behalf of the Sioux Falls, S.D.-based Good Sam.

    The buyer and terms were not disclosed, but the new investors installed Allure Healthcare Services as operators at the facilities the firm has extensive management experience with rural SNFs and senior housing properties, Blueprint noted.

    Good Sam has sold small pockets of skilled nursing properties in the wake of its mega-merger with non-profit health system Sanford Health, which closed at the start of this year when the transaction was first announced back in June 2018, Good Sam reported around 80 skilled nursing facilities in its nationwide portfolio.

    The non-profit provider sold off a pair of buildings in New Mexico at the end of January, then two months later offloaded two more to for-profit leader The Ensign Group in Arizona. Also in March, Good Sam sold three properties in Wisconsin to an undisclosed buyer.

    Amy Sitzman and Michael Segal led the transaction for the Chicago-based Blueprint, which has also played a role in the other Good Sam sell-offs this year.

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    Medicaid Eligibility In Illinois

    The Department of Human Servicess Family Community Resource Center handles applications for both Medicaid and Medicaid HCBS Waivers. Individuals can find a local FCRC office using their website. Medicaid applications can take up to three months to process and can take even longer if the applicant is denied and has to reapply. For this reason, it is important for individuals to determine their eligibility before applying.

    Income limits for both single applicants and couples with one person applying are $1,073 per month with asset limits of $2,000. If both spouses apply, then the asset limit is $3,000.

    2022 Medicaid Income Limits for Seniors in Illinois

    Annual Income Limits

    $2,000 for applicant & $109,560 for non-applicant

    Two-Person Household

    $17,424

    $3,000

    In addition to financial eligibility, families and seniors must meet other requirements to qualify for Medicaid and affiliated programs, such as proof of residency. Other qualifying factors include:

    • Military discharge documentation, if applicable
    • Citizenship papers, such as birth certificates or green cards
    • Proof of Medicare coverage

    When A Nursing Home Is Medically Necessary

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    Medicaid will pay for a nursing home only when it is medically necessary. Medicaid will not pay for nursing home care that is just “custodial,” meaning non-medical care such as help with transferring to and from a wheelchair, bathing, or eating.

    Before Medicaid will pay for nursing home care, you must have a “needs screening.” If you are in a hospital, the hospital will arrange the needs screening for you. If you are in your home, you should contact the state to arrange for a screening. Individuals who are 60 and over can call the Department of Aging at 800-252-8966 to arrange for a needs screening. Individuals with a physical disability can call the Department of Human Services at 877-761-9780 to arrange for a screening. Individuals who are developmentally delayed or have a mental illness can call DHS at 800-843-6154.

    Medicaid uses the information in your needs screening to decide whether you need a nursing home and, if so, what kind of nursing home is appropriate for you. In general, for a nursing home to be considered medically necessary, you must have a medical condition that is so serious that you need the level of skilled nursing care that is only available in an institution.

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    We Make Transactions Happen With Complete Confidentiality

    Representing sellers of Seniors Housing and Long-term Care Communities is a job we take very seriously. With our nationwide network of buyers, expansive inventory, and seasoned team of dedicated professionals, we deliver seamless transactions all while honoring your need for confidentiality. Whether youre in search of long-term care communities for sale or looking to sell your own senior living community, we can help you close a transaction!

    Nursing Homes For Sale Is Our Main Business

    If you seek skilled nursing facilities for sale, Healthcare Transactions Group is a leading national Mergers & Acquisitions Intermediary and Advisory firm originating and facilitating the sale of nursing homes. Since our founding in 1996, we have sold over 150 nursing homes in 29 states. If you are looking for nursing homes for sale, please contact us by phone or email and review our online inventory of nursing homes for sale. Even if we do not have a nursing home for sale suitable for you now, fill out our Buyer/Seller Profile and let us know your targets. In the future, we have a skilled nursing home sale opportunity that fits your criteria.

    If you are an owner and you are considering listing your nursing home for sale, Healthcare Transactions Group is the only intermediary firm in this space that has operating experience and knowledge. Mark Davis, President of Healthcare Transactions Group, has a long and distinguished career in the nursing home sector, including as chief of mergers and acquisitions for Integrated Health Services, co-founder of a nursing home development company and a senior manager in development and acquisitions for Beverly Enterprises. Mark has also spoke at the National Investment Center for Seniors Housing & Care Conference, the foremost trade organization for the industry. We have sold nursing homes for major multifacility companies, regional providers and independent owners.

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    At What Point In Time Are Assets Valued For Medicaid Purposes

    Assets are valued during the eligibility determination. All transfers of assets and income made within 60 months of the date of application will be reviewed. A transfer occurs when a person buys, sells, gives away, or changes the way assets are held.

    If you transferred assets within five years of the date of application and did not receive the fair market value, you may have a penalty period. You will not be eligible to receive Medicaid during the penalty period. The length of the penalty depends on the fair market value of the asset and the private pay cost of the nursing home. Fair market value is the value of the asset on the open market at the time of the transfer.

    Example: If Helen transfers the title to her home to a granddaughter as a gift two years before applying to long-term care Medicaid, she may be ineligible for a certain time. The amount of time will depend on the private pay cost of the nursing home and the fair market value of the home she gave away. If the nursing home charges $6,000 a month for private pay and the fair market value of the home was $60,000, the penalty period will be for 10 months. If Helen is otherwise eligible on the date she entered the nursing home, she will not receive assistance for the first 10 months.

    Find A Nursing Home In Illinois

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    A nursing home is a residential facility for long-term clinical care of seniors and disabled patients. Nursing homes are staffed by skilled nurses 24 hours a day, who provide care to those who are sick with chronic illness or recovering from injuries. The skilled nurses make sure that residents receive the necessary medication and other essential medical care for their conditions. The environment of a nursing home is often somewhat clinical in comparison with an assisted living community, on account of the greater emphasis on medical care.In addition to skilled nursing staff, nursing homes also employ staff who provide personal care services and assistance with daily activities, like meals, housekeeping, laundry, getting dressed, and mobility. Some nursing homes support memory care for patients with Alzheimers and dementia. Nursing homes may accept Medicare and/or Medicaid payment.

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    Assisted Living Facilities For Sale Showing 1

    Mid-Atlantic Region The companys sterling reputation combined with its long history in the clinical trial marketplace has established it as one of the premier firms in its long-term care niche. 2021 results are continued evidence of increasing strong cash flow and demand for its services. It continues…

    For more than a decade providing senior care or nursing. Well-established 8 bed long-term assisted living facility with completely skilled staff. Turnkey with Real Estate Included. The owner has operated with 5 beds to date.Building SF:3,200Competition: Assisted Living Services currently has…

    Profitable Residential Care Facilities with three locations for the Elderly providing a comfortable, caring, and supervised living arrangement in a family home setting. There is a continuous 24/7 quality care for both ambulatory and non-ambulatory residents. The care staff is well trained. For sale…

    LISTING ID # 31912Large Manhattan Adult Social Day Care Facility. Approved for 32 clients- average attendance 25-29 clients. 5 MLTC contracts in place. Operating 5 days per week from 9 am to 2pm. 3 rooms. 2 levels with elevator for clients. Certified Social Worker, bilingual staff and instructors….

    LISTING ID # 33993Adult Day Care Service License now available. Active license. Philadelphia County based. Contact the broker for more information.

    Services Offered In Skilled Nursing Home Care Facilities

    The basic services offered in nursing homes are:

    • Comfortable private, or semi-private, rooms
    • Daily cooked meals
    • Speech therapy, pain/medication management, and hospice care
    • Physical therapy programs
    • Social programs and activities
    • 24-hour personal and medical assistance

    Most of these facilities have medical equipment, such as oxygen machines, pharmacies, and electronic beds, to cater to their patients’ needs. Some facilities provide Alzheimer’s care, with special facilities and layouts ideal for dementia patients.

    Live your retirement can provide you with a list of services offered at nursing homes. We can also provide a list of attractions and other facilities near their listings like hospitals, malls, and parks.

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    How Much Income May A Nursing Home Resident Keep

    A resident receiving Medicaid may keep a small portion of their income. This is called the Personal Needs Allowance . The amount changes from time to time. The current amount can be found on the IDHS website.

    Deductions may be made from the income going to the nursing home. These may be for:

    • Dependent children,
    • Maintaining a home if the resident expects to return home within six months and there is no community spouse,
    • Medicare and other health insurance premiums,
    • Incurred medical expenses, or

    Sale Of Nursing Homes And Assisted Living Facilities

    1750 W Washington St, Springfield, IL 62704

    Since 1996, Healthcare Transactions Group has been a market leader in the sale of nursing homes and skilled nursing and assisted living facilities.

    We have sold skilled nursing facilities for independent owners, multifacility regional and national corporations, and distinguished public companies, such as Kindred Healthcare. Our nursing home sales have included individual skilled nursing facilities and skilled nursing facility portfolio transactions. Healthcare Transactions Group has closed sales of over 250 nursing homes in 36 states. Healthcare Transactions Group has been synonymous with the sale of post-acute facilities.

    We have also represented not-for-profit organizations, including hospital systems, to sell their skilled nursing and assisted living facilities. Healthcare Transactions Group provides expert guidance to not-for-profit corporations, from valuation advice, organizing a competitive sale process consistent with your fiduciary obligations, preparing a compelling prospectus, vetting and selecting potential acquirers, negotiating the transaction, evaluating the use of the proceeds to continue to fulfill your organizations mission.

    When it comes to the sale of nursing homes and assisted living facilities in the U.S., Healthcare Transactions Group is the the most trusted name.

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    Blueprint Brokers Sale Of Three

    SIOUX FALLS, S.D. Blueprint Healthcare Real Estate Advisors has negotiated the sale of three skilled nursing facilities totaling 279 beds in northwest Illinois.

    The seller is Sioux Falls-based nonprofit owner-operator The Evangelical Lutheran Good Samaritan Society. The three properties are all located near the Iowa border, but specific names and locations were not disclosed.

    The buyer and price were not disclosed, but the new owner plans to transition operations to Allure Healthcare Services.

    Amy Sitzman and Michael Segal of Blueprint facilitated the transaction.

    Income Limits For Medicaid In Illinois

    The income limits for AABD Medical are different depending on whether you live in the community or in a nursing home or assisted living facility.

    Income Limits for People Living in the Community

    AABD Medical covers elderly, blind, and disabled residents living in the community with income up to 100% of the federal poverty level . In 2019, that is $1,041/month for a household of one or $1,409/month for a household of two.

    If your income is more than the FPL, you can still qualify for AABD Medical by “spending down” your excess income every month on certain expenses. The state determines your spend-down amount based on your income. You qualify for Medicaid every month you can show the state that you have incurred the expenses. You do not have to actually pay the bills, just show the state that you have incurred them.

    For example, Mrs. Brown has excess income above the AABD Medical income standard. Illinois tells Mrs. Brown her spend-down amount is $120/month. She has a doctor’s appointment that will cost her $250 out of pocket. She has met her spend-down and qualifies for AABD Medical that month.

    Income Limits for People Living in a Facility

    If your monthly income exceeds the cost of the nursing or supportive living facility, then you may still qualify for AABD Medical benefits if you spend-down your excess income every month on other eligible expenses.

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    Top Illinois Nursing Homes

    TopNursingHomes.com is created to find you nursing homes in Illinois. Thank you for visiting and we look forward to helping you. If you are looking for a care facility for yourself, your family, or any other loved one, our website offers extensive Illinois nursing home search options for you and can bring you choices right away.

    The Illinois nursing home service you pick could be one of the most important decisions you will make for yourself or another person. Simply choose any region to find nursing homes that meet your criteria. No matter what your need, we use a comprehensive list of Illinois nursing homes that can each provide a wide variety of services. Don’t take a chance that you might miss your top choice. Our experience with Illinois nursing homes can mean the difference between finding the best result or missing it. This can mean you will see more effective results in minutes of searching rather than hours or looking.

    The nursing homes you find with us can help with Alzheimer’s, senior care or disability care. We find the top results for you to compare between Illinois nursing homes. This makes it easier to find and receive needed care.

    It’s fast and thorough. Search here and sign up for the right Illinois nursing home option today!

    How Are Assets Counted When Applying For Medical Assistance

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    All assets owned by an applicant and their spouse, if they have one, must be reported on the application. Medicaid is based upon financial need. All non-exempt assets must be used to pay for care before Medicaid begins. Exempt assets” do not need to be sold and spent before an applicant is eligible.

    Examples of exempt assets include:

    • The residents home if he/she plans on returning to it or a spouse or dependent child resides there,
    • Clothing, furnishings and household goods,
    • One car if used by resident, spouse or dependent,
    • $2,000 total in all other assets, such as bank accounts, certificates of deposit,
    • $1,500 in cash value of life insurance policies and burial funds,
    • Burial plot and equipment, and
    • Certain trust funds .

    Most of your other assets must be used before you will be eligible for Medicaid. You will not be eligible if you give away your assets without receiving fair market value.

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