Fees and charges applied by aged care facilities are asset and income tested, making it difficult to understand what you will be liable to pay.
Firstly, if you are entering a low care facility, you may have to pay an accommodation bond. If your assets are between $40,500 and $107,850.40, you may be asked to pay a small accommodation bond and you will be considered a partially subsidised resident. If your assets are over $107,850.40 then you will be asked to pay a bond, on which there is no limit but you must be left with assets of $40,500.
If you are entering a high care facility, you may be asked to pay an accommodation charge. With assets below $40,500, you will have no charge to pay, assets between $40,500 and $107,850.40 you will pay between $1 and $32.38 daily, based on a sliding scale and with assets over $107,850.40, you will pay $32.38 daily. High level care facilities can only enforce an accommodation charge if they have received Government certification.
Once you have entered a care facility, whether low or high care, you may be required to pay a basic daily fee and an income-tested fee.
Basic daily fee
You will be required to pay a daily fee at one of the following rates:
· a standard rate of $41.34 per day will apply to most aged care residents.
· a protected rate of $37.73 per day will apply to people in care on 19 September 2009 who did not get the benefit of a pension increase.
· a phased rate of $39.86 per day will apply to people who enter care on or after 20 September 2009 who did not get the benefit of a pension increase.
· a non-standard rate of $46.99 per day will apply to certain people who entered care prior to 20 March 2008.
Residents with a total assessable income above the maximum income of a full pensioner are required to pay an income-tested fee. This is based on total income and is currently capped at $66.43. It is reviewed four times every year.
For a full schedule of fees and charges, visit www.health.gov.au.