The journey into residential aged care often begins with more questions than answers, especially when it comes to understanding the costs involved.
The Australian Government regularly updates the Schedule of Fees and Charges for Residential and Home Care, affecting how much you or your loved one will contribute to care costs.
As these updates occur quarterly, staying informed is crucial for making well-informed financial decisions.
The Essence of Aged Care Costs:
Do you know how residential aged care fees are structured in Australia? It’s important to grasp the three main types of fees and what they cover. Have you considered how the basic care fee, means-tested fee, and Refundable Accommodation Deposit (RAD) might apply to your situation?
Income, Assets, and Your Contribution:
Your level of income and assets play a significant role in determining your contribution to aged care costs. Are you aware of how your property and savings could influence the fees you pay?
Navigating Government Updates:
With the latest update effective from 1 January 2024, are you familiar with the current rates and caps on fees and charges? How will the changes impact your financial planning for aged care?
Special Fees for Additional Services:
Beyond the basic costs, have you considered the potential for additional service fees that cater to a more comfortable or luxurious lifestyle within aged care facilities?
Assessments and Estimations:
Understanding the cost of aged care is a process that involves both an Aged Care Assessment and an Assets and Income Test. Have you scheduled these assessments, and do you know what to expect?
Preparing for Aged Care:
Have you considered all your options and how to best prepare for the transition to aged care? Are you seeking a way to streamline the process of finding the right aged care facility that meets your unique needs?
Well Placed Care: Here to Assist You
We recognise that navigating the complexities of aged care fees can be overwhelming. That’s why Well Placed Care is dedicated to guiding you through every step. Our expertise and resources can simplify this transition, offering peace of mind that you’re making the best financial decisions for your aged care needs.
We provide a comprehensive service that includes identifying ideal residential aged care options that align with your personal preferences, care requirements, and financial situation. With our tailored approach, we aim to ensure that you or your loved one will find a new home that is both welcoming and well-suited to your needs.
To explore your options and gain clarity on the financial aspects of aged care, reach out to Well Placed Care. We’re here to provide the support and information you need to navigate this important chapter with confidence.