Where can I get help to make decisions about care?

Navigating through the financial aspects of aged care can be complicated, especially as you should take into consideration: How your age pension is affected? How to pay for your accommodation? What you will pay for your ongoing care? Whether you need to pay any tax? Whether you have enough cashflow to pay for your care[…]

Will I still receive an age pension after moving into care?

If you receive a payment from Centrelink or Veterans’ Affairs you need to update your records every time your circumstances change. This includes when you move into aged care. The amount you receive after moving into care may change. It may increase or decrease depending on your circumstances and how your income and assets change.[…]

If I pay a RAD, when is it refunded and how much will I receive back?

If you pay for your accommodation as a refundable accommodation deposit (RAD) you will receive this money back after you move out. If you pass away, the RAD is repaid to your estate. The facility will generally ask to see a copy of probate for your estate. The full RAD is refunded to your executor[…]

If I pay a RAD how secure is my money?

The Federal Government guarantees the repayment of refundable accommodation deposits (RADs) which have been paid to an accredited aged care facility. This means if the facility goes into liquidation or faces bankruptcy and cannot afford to repay your RAD the Government will pay you back the full amount owing. This makes your money very secure.[…]

What is a refundable accommodation deposit (RAD)?

One option to pay for your accommodation is to pay the requested lump sum. This is called a refundable accommodation deposit or a RAD for short. You can check the facility’s website to see the maximum RAD you may be asked to pay if you accept an offer of a place. But paying the lump[…]

What if I can’t afford the accommodation payment?

If you have low levels of income and assets you might qualify as a low-means resident. The amount you pay towards your accommodation will be based on your income and assets. As a general rule, you are only likely to qualify if you do not own your own home or if your spouse or other[…]

Do I have to sell my home when I move into aged care?

When you move into care you will be asked to pay for your accommodation as either a refundable lump sum (refundable accommodation deposit – RAD) or a daily “rental” payment (daily accommodation payment – DAP). Some residents may choose to sell their home to make these payments. Other residents may choose to keep their home[…]

How much will I pay if I move into residential aged care?

When you move into residential care you will be asked to contribute towards the cost of your care but the government also pays a large part of the costs for most residents. The fees may look confusing as they are divided into four categories but each category has a different purpose. How much you will[…]