Fees and charges are legislated by the Federal Government, under the Living Longer Living Better reform package. Residents can choose to pay for their accommodation by a refundable deposit, a daily payment, or a combination of both. A refundable deposit is paid as a lump sum amount. A daily payment accrues daily and is paid periodically, for example monthly. A combination payment includes both a partial lump sum and daily payments.
The amount that consumers contribute towards the cost of residential aged care will depend on a care recipient’s individual circumstances.
From 1 July 2014, the Federal Government will combine the current income and assets test to ensure a consistent fees policy for anyone entering residential care after this date.
This will address the issue of asset-rich, income-poor residents paying for all of their accommodation and nothing for care, and income-rich, asset-poor residents paying for their care but not for accommodation.
The new means testing arrangement for residential care will ensure greater fairness and consistency in how older Australians contribute to the cost of the service they need.
The maximum Refundable Accommodation Deposit (RAD) at Carshalton House is $400,000. Based on this the equivalent Daily Accommodation Payment (DAP) would be $91.40.
An example of a combination would be where 50% of the Refundable Accommodation Deposit or $200,000 is paid.
In this example the resident would pay a lump sum of $200,000 as well as a daily accommodation payment of $45.70.
For more information visit www.myagedcare.gov.au or www.livinglongerlivingbetter.gov.au
Fees and charges are legislated by the Federal Government, under the Living Longer Living Better reform package. Residents can choose to pay for their accommodation by a refundable deposit, a daily payment, or a combination of both. A refundable deposit is paid as a lump sum amount. A daily payment accrues daily and is paid periodically, for example monthly. A combination payment includes both a partial lump sum and daily payments.
The amount that consumers contribute towards the cost of residential aged care will depend on a care recipient’s individual circumstances.
From 1 July 2014, the Government will combine the current income and assets test to ensure a consistent fees policy for anyone entering residential care after this date.
This will address the issue of asset-rich, income-poor residents paying for all of their accommodation and nothing for care, and income-rich, asset-poor residents paying for their care but not for accommodation.
The new means testing arrangement for residential care will ensure greater fairness and consistency in how older Australians contribute to the cost of the service they need.
The Refundable Accommodation Deposit (RAD) for a single room with ensuite at Golden Oaks Nursing Home is $500,000. Based on this the equivalent Daily Accommodation Payment (DAP) would be $114.25.
An example of a combination would be where 50% of the Refundable Accommodation Deposit or $250,000 is paid.
In this example the resident would pay a lump sum of $250,000 as well as a Daily Accommodation Payment (DAP) of $57.12.
More information on Golden Oaks room pricing is below.
Single room with ensuite RAD: $500,000 DAP: $114.25
Single room, shared ensuite RAD: $400,000 DAP: $91.40
Shared room, shared ensuite RAD: $300,000 DAP: $68.55
Couples room, shared ensuite RAD: $300,000 DAP: $68.55
For more information visit www.myagedcare.gov.au or www.livinglongerlivingbetter.gov.au
Fees and charges are legislated by the Federal Government, under the Living Longer Living Better reform package. Residents can choose to pay for their accommodation by a refundable deposit, a daily payment, or a combination of both. A refundable deposit is paid as a lump sum amount.
A daily payment accrues daily and is paid periodically, for example monthly. A combination payment includes both a partial lump sum and daily payments.
The amount that consumers contribute towards the cost of residential aged care will depend on a care recipient’s individual circumstances.
From 1 July 2014, the Federal Government will combine the current income and assets test to ensure a consistent fees policy for anyone entering residential care after this date.
This will address the issue of asset-rich, income-poor residents paying for all of their accommodation and nothing for care, and income-rich, asset-poor residents paying for their care but not for accommodation.
The new means testing arrangement for residential care will ensure greater fairness and consistency in how older Australians contribute to the cost of the service they need.
The maximum Refundable Accommodation Deposit (RAD) at Carshalton House is $400,000. Based on this the equivalent Daily Accommodation Payment (DAP) would be $91.40.
An example of a combination would be where 50% of the Refundable Accommodation Deposit or $200,000 is paid.
In this example the resident would pay a lump sum of $200,000 as well as a daily accommodation payment of $45.70.
For more information visit www.myagedcare.gov.au or www.livinglongerlivingbetter.gov.au
Fees and charges are legislated by the Federal Government, under the Living Longer Living Better reform package. Residents can choose to pay for their accommodation by a refundable deposit, a daily payment, or a combination of both. A refundable deposit is paid as a lump sum amount. A daily payment accrues daily and is paid periodically, for example monthly. A combination payment includes both a partial lump sum and daily payments.
The amount that consumers contribute towards the cost of residential aged care will depend on a care recipient’s individual circumstances.
From 1 July 2014, the Federal Government will combine the current income and assets test to ensure a consistent fees policy for anyone entering residential care after this date.
This will address the issue of asset-rich, income-poor residents paying for all of their accommodation and nothing for care, and income-rich, asset-poor residents paying for their care but not for accommodation.
The new means testing arrangement for residential care will ensure greater fairness and consistency in how older Australians contribute to the cost of the service they need.
The maximum Refundable Accommodation Deposit (RAD) at either Stella Anderson or Joan Pinder is $500,000.
Based on this the equivalent Daily Accommodation Payment (DAP) would be $114.25.
An example of a combination would be where 50% of the Refundable Accommodation Deposit or $250,000 is paid.
In this example the resident would pay a lump sum of $250,000 as well as a Daily Accommodation Payment (DAP) of $57.12.
More information on Joan Pinder and Stella Anderson room pricing is below.
Single room with ensuite RAD: $500,000 DAP: $114.25.
Shared room with shared ensuite RAD $400,000 DAP: $91.40.
For more information visit www.myagedcare.gov.au or www.livinglongerlivingbetter.gov.au