A resolution authorizing a $15 million rebate of Valley Hi Nursing Home surplus funds will be up for a vote at Tuesday’s McHenry County Board meeting.
About 88,000 properties could qualify for the rebate, board Chairman Jack Franks said. Eligible homeowners who paid $500 in property taxes to the county last year could get about $150 – or about 30% of what they paid to the county.
If the rebate were approved, Valley Hi would be left with $25 million in reserves, which Franks said is five times greater than any other county-run nursing home.
The long-debated topic has received mixed reactions from board members, with some skeptical of how a $15 million loss may affect future planning.
After this vote, the board will consider two other resolutions aimed to provide future sustainability for Valley Hi.
One resolution would remove 10 Medicaid residents and add 10 Medicare residents to the facility’s daily case mix target. There also would be the option to use the facility’s eight overflow beds to create private rooms in the future.
The other seeks authorization to increase the daily private-pay resident room rates $10 a day effective June 1, $5 a day effective Dec. 1 and $10 a day effective June 1, 2020. This increase would affect about 20 residents a day.
The increase is expected to generate about $36,500 more in private pay from June through November, about $18,250 more from December through May 2020 and $36,500 from June through November 2020. These amounts are based on the estimated daily number of residents, which may fluctuate.
The meeting will be at 7 p.m. at the McHenry County Administration Building, 667 Ware Road.