Basic Daily Care Fees
The standard daily resident contribution is set by the Commonwealth government, and is paid by all residents; it is linked to the Aged Pension. This fee increases every six months usually of the 20th March and the 20th September, in line with the pension increases. The figure is approximately 85% of the full Aged Pension.
Accommodation Bonds (low care residents)
An accommodation bond may be payable for low care. It is a loan to the facility for the duration of the resident’s placement. Bonds are guaranteed by the Commonwealth Government. They are not asset tested by Centrelink or the Deptartment of Veterans Affairs, and are paid back within legislated time frames on termination of an agreement. There is a retention amount drawn from the bond each month for a maximum period of 5 years. The amount is negotiated dependent on a resident’s level of assets. Bonds can be paid in lump sum, periodic payments or a combination of both methods.
Accommodation Charges (high care residents)
An accommodation charge may be payable for high care. This charge is asset tested at entry and capped by the Government.
Supported Residents (high care or low care)
A limited number of places are allocated for supported residents. These residents have assets below the minimum assets amount set by the Department of Health and Ageing and are not required to pay a bond or accommodation charge.
Income Tested Fee
The Commonwealth Government via Centrelink or DVA income tests all Residents entering Residential Aged Care. Depending on the level of resident’s assets or income the Commonwealth Government may also apply an income tested fee. If a resident is able to contribute towards their own funding, they may be asked to do so. The Provider of Residential Aged Care may be asked to apply an income tested fee as instructed by the Commonwealth Government.
Follow this link for the Department of Health and Ageing’s current fees and charges page.
http://www.health.gov.au/feesandcharges