What are the costs associated with residential aged care?
You can be asked to pay the following fees in residential aged care:
A basic daily fee – this covers living costs such as meals, power and laundry. For some people, this is the only fee they are required to pay.
A means-tested care fee – this is an additional contribution towards the cost of care that some people may be required to pay. The Department of Human Services (Centrelink) will calculate if you are required to pay this fee based on an assessment of your income and assets. They will advise you of the amount. Please note this is not an additional fee that Karingal Seymour receives – the governement reduces the subsidies received for the care we provide to the resident.
The means-tested care fee is capped at $26,964.71 annually. This amount is indexed each year. Upon reaching this cap, you will be notified by the Department of Human Services and you will not be expected to pay means-tested care fees again until your admission anniversary.
There is a lifetime cap for means-tested care fees of $64,715.36. Once the lifetime cap is reached, you will only be required to pay the basic daily fee and your agreed accommodation costs.
An accommodation payment – this is for your accommodation in the home. Some people will have their accommodation costs met in full or part by the Australian Government, while others will need to pay the accommodation price agreed witht he aged care home. The Department of Human Services (Centrelink) will advise you which applies to you based on an assessment of your income and assets.