The Australian Government strictly regulates the aged care industry, and after many years of heavily subsidising care costs, it’s now changing to a more user-pays system. The government will still cover expenses for those people without the means to pay for themselves, but if you can afford to pay for some or all of your care costs, you will be expected to.
When many people look online or phone an aged care provider and hear of a Refundable Accommodation Payment of up to $550,000, their initial reaction is “I can’t afford that!”
Well, quite possibly, you can….All Steps Aged Care can show you how to maximise your age pension and possibly reduce aged care fees by structuring your payments effectively. Take the first step to planning for your future and call our staff today.
There are a few payments you may be charged when you are in residential care, and there are a number of different ways you can elect to pay these fees. From the date you move into residential aged care, you will have 28 days to decide how you will pay your ongoing fees. During the time you take to decide, you are required to pay your fees as a ‘rental-style’ daily accommodation payment.
If you own your own house or unit, there are some extra options available to you to help you fund your aged care, and with that comes some additional emotional considerations. We can help discuss these issues with you.
and have ongoing financial peace of mind.”
One of the areas we specialise in is finding the nicest available accommodation for clients who have little money. Don’t feel that you must just ‘take what you are given’, there are still many options available and many of them are beautiful. Let us find the best the best care situation available for YOU.
Disclaimer: Our staff are NOT licensed financial advisors and we do not provide any advice regarding financial products. Our staff can provide estimates in relation your aged cared fees and comparisons to illustrate the different options of paying your aged care fees, however where financial product advice is required (e.g. in relation to shares, super, managed investments) we will happily refer you to a licensed financial advisor.