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Moving Into Residential Aged Care

on Tuesday, September 20, 2016

Making the move into residential aged care – either for yourself or a loved one – can be a daunting time. The changes can be overwhelming and trying to navigate your way through all the financial options available to you can be stressful. 

The first thing you need to do, is undergo an assessment by an Aged Care Assessment Team (ACAT – also known as an Aged Care Assessment Service ACAS in Victoria). This assessment will determine whether you are eligible to receive Government support for residential aged care.

Click here to find your nearest ACAT/ACAS.

Once you have been assessed, the next step is finding an aged care home that suits your needs. Aged Care Online’s comprehensive Australia-wide directory of aged care homes lets you search for homes in your chosen area. Click on your state below to begin your search:

Once you have found an aged care home that you like, it’s time to work out the costs involved with moving in. You will need to complete an Income and Assets form – if this form is not filled out and submitted, the cost of accommodation will be charged at the highest rate. Upon completion and submission of this form, you may be asked to pay a combination of four different care fee and accommodation costs:

  • A basic daily fee: this fee will cover living costs such as meals, cleaning and laundry. This may be the only fee you need to pay.
  • A means-tested care fee: this fee is an additional contribution towards the cost of care. An assessment of your income and assets will determine whether you need to pay this fee.
  • Accommodation fees: this fee covers your accommodation in the aged care home. The Government may pay all or part of this fee, however others will be required to pay the accommodation costs as agreed with the aged care home.
  • Extra service fees: if you choose an aged care home that offers a higher standard of accommodation, you may have to pay an additional fee – usually called an Extra Services Fee. Extra services offered can include daily newspaper delivery, extra meal choices and access to additional services. Your chosen aged care provider will advise you of this fee.

There are three different ways that you can pay for your accommodation costs:

Refundable Accommodation Deposit (RAD)

This is when the total cost (as agreed with your chosen aged care home) is made in a lump sum. The balance of the deposit (minus any fees) will be refunded when you or your loved one leaves the aged care home.

Daily Accommodation Payment (DAP)

This is offered as an alternative to pay the full cost upfront. You can instead choose to pay a Daily Accommodation Payment, by paying instalments as agreed with your aged care provider. DAP’s are not refundable.

For example, if the RAD is set at $400’000, the conversion to a DAP would be $68.82.

A combination of a RAD and a DAP

You also have the option to pay for your aged care accommodation as part RAD and part DAP.

For example, if the RAD is set at $400’000, and you pay a deposit of $200’000, the DAP would then be $34.41.

If you need help finding an aged care provider, simply use our comprehensive online directory. Alternatively, you can call 1300 755 702 for assistance.

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