N.J. Admin. Code § 8:97-2.3

Current through Register Vol. 56, No. 9, May 6, 2024

Section 8:97-2.3 - Posting and Department notification of annual owner-certified financial statements and CMS cost reports

(a) A nursing home shall post to its internet website its annual owner-certified financial statement, and, if applicable, its most recently submitted CMS cost report, by no later than the 15th day of the sixth month following the end of the nursing home's fiscal year.

(b) A nonprofit nursing home may post its most recent public inspection copy of Internal Revenue Service Form 990, including applicable schedules and supporting documents, to satisfy all or part of the requirements of posting an annual owner-certified financial statement pursuant to (a) above.

(c) The requirement at (a) above, to post a CMS cost report applies only to nursing homes that are Medicare-certified and accept Medicaid or Medicare patients, receive funds from CMS, or submit cost reports to CMS.

(d) A health care system may satisfy the requirements at (a) above by posting on each of its system nursing homes' internet websites financial statements, and CMS cost reports, aggregating the financial data of all nursing homes that are part of the health care system; provided:

1. The health care system submits the average daily census, operating margin, and adjusted operating margin for each of the system nursing homes;

2. The health care system submits a statement of operations or income, with respect to each of the system nursing homes; and

3. Only nursing home financial data, and no data from any other facility types, should be included in the aggregated owner-certified financial statement for the health care system.

i. Health care systems may submit a supplemental schedule with specific line-of-business segment reporting, or the applicable Worksheets (Worksheets B Part II, G, G-1, G-2, and G-3) from their most recent CMS Cost Report to satisfy the requirement at (d)3 above.

(e) A nursing home shall submit the required internet website link to the Department in one of the following ways:

1. By email: financial.reports@doh.nj.gov;

2. By regular mail:

Office of Health Care Financing

New Jersey Department of Health

PO Box 360

Trenton, NJ 08625-0360; or

3. By overnight delivery service or hand delivery:

Office of Health Care Financing

New Jersey Department of Health

55 N Willow Street, 5th Floor

Trenton, NJ 08608

N.J. Admin. Code § 8:97-2.3

Adopted by 56 N.J.R. 433(a), effective 3/18/2024