The financial side of Aged Care can easily become confusing. The terms and multiple government processes to comply with can become overwhelming, so our role is to provide a clear and current explanation of your options. Please contact us to discuss your situation with one of our friendly team members.
REFUNDABLE ACCOMMODATION DEPOSIT (RAD)
A Refundable Accommodation Deposit (RAD) is a lump sum accommodation payment that is assigned to every aged care room in Australia. This payment is fully refundable when you leave. If you decide not to pay RAD in full, you may choose to pay a smaller deposit combined with a Daily Accommodation Payment (DAP). Your DAP is adjusted based on the amount you are able to pay upfront. The more you are able to pay upfront, the lower the amount of your DAP.
BASIC DAILY FEE
Residents are required to pay a basic daily fee which goes towards cleaning, meals, laundry and other day-to-day costs of living. The current government-set maximum daily fee for all residents is 85% of the basic single age pension. Your maximum basic daily fee will be confirmed by the Department of Human Services upon your entry to an Aged Care community such as Blue Hills.
MEANS-TESTED FEE (MTF)
If you are entering aged care on a permanent basis you may also be required to pay an additional contribution fee. This is a government fee which is based on testing your income and assets. There are annual and lifetime caps in place for this contribution.