Aged Care Costs
Understanding fees and charges in aged care
Moving into a care home is a big decision and it is important to gain an understanding of the fees associated with your care and accommodation. Your fees may vary according to the type of care you require, the home that you choose and also your financial situation. We recommend you seek financial advice before entering an aged care home to help you choose the right payment option for you.
To help ensure that care is affordable for everyone, the Australian Government calculates and regulates maximum daily fees and enforces limits as to how much you can be asked to pay for accommodation.
Basic Daily Care Fee
This fee is set out by the Government and equates to 85% of the full pension. The fee amount will be reviewed on the 20th March and 20th September each year in line with the pension increase. Everyone in aged care is required to pay this fee unless they are experiencing financial hardship which will be determined by Centrelink.
The current Basic Daily Care Fee as 20th September 2019 is 51.63/day
Means Tested Care Fee
If your Assets & Income are above a certain level as determined by your assessment, you can be asked to contribute an additional amount to your care, as assessed by Department Human Services. Means tested fees are capped at a maximum of $27,752 annually, and $66,610 over three years.
An estimate of costs can be obtained by completing the Residential Care Fee Estimator on this link.
This is for your accommodation in the home. Some residents will pay nothing, and their cost will be paid by the Australian Government, while others will need to pay an amount based on their Asset & Income Assessment, and agreed with the aged care home.
Manor Court’s maximum accommodation is $400,000.
To allow you flexibility there are four payment options to choose from.
- Daily accommodation payment
- Refundable accommodation deposit
- Combination payment
Please see below a Daily Accommodation Payment Calculator based on Net Estimated Assets and the amount of RAD to pay.
Disclaimer:The information which you calculate from this Calculator is intended for use by you as a guide only, it is not an offer and has no legal effect on any contracts entered into by you ‘ the client’.