Your Fees and Charges are an important contribution to the Care and Accommodation provided by the residence, while the Government remains the primary source of Care funding.
These Fees and Charges are determined by the Department of Social Services based on your ability to pay and individual circumstances at time of admission. Each quarter the Department produces a Schedule of Resident Fees and Charges. Your admission options can vary greatly based on your individual circumstances.
We recommend speaking to your Financial Adviser as we can only provide basic information. The Government’s new My Aged Care website also has an Aged Care Fee Calculator.
Resident Agreement
A Resident Agreement protects both parties by formalising arrangements upon admission. As the Government determines fees after admission, the Resident Agreement refers to the maximum amount that could be charged for the various fees and charges.
Basic Daily Fee
All residents in aged care, including respite residents, are required to pay a Basic Daily Fee as a contribution towards care and living expenses. The daily fee for all residents equates to 85% of the basic single age pension.
Means Tested Care Fee (Income tested Fee)
Residents (other than respite residents) may be asked to pay a care co-contribution fee depending on their income and their assets. The Government sets the amount a resident must pay direct to the aged care provider and reduces the care subsidies paid to the Provider by the same amount. The Care Co-Contribution is capped at approx. $32k a year and approx. $76k over your lifetime. This cap includes payments from community care and home care. This contribution is calculated by Centrelink or the Department of Veteran Affairs.
Refundable Accommodation Deposit (RAD)
This is a lump sum payment for accommodation in an aged care home and is fully refundable when you leave the residence. This is the price of a room, in lump sum form, that residents have agreed to pay with the provider. Residents can pay the RAD in full or they can pay via a combination of a smaller RAD and a Daily Accommodation Payment (DAP).
Daily Accommodation Payment (DAP)
The DAP is calculated as a daily cost that is charged monthly if the RAD has not been paid in full. The DAP is calculated as a percentage of the remaining RAD.
For example, if the RAD on a room is $549,000 and no RAD is paid, then the customer will pay $126.04 as a DAP (based on the current 8.38% interest rate).
The following formula is used to calculate the DAP: ($549,000 X 8.38%)/365 = $126.04
Combination of RAD and DAP
The customer can elect to pay a combination of a RAD and a DAP. For example, on a room with a RAD of $549,000, the customer can pay $200,000 upfront and the remaining $349,000 as a DAP. In this scenario the DAP would be $80.12 per day.
RAD refunds
Upon leaving the residence, the refundable deposit will be refunded in full, as long as it was not agreed for any amounts to be deducted from the refundable deposit in which case it would be the balance that would be refunded. Amounts that can be deducted against the refundable deposit are the Care Co-contribution, the DAP and any extra service fee payable.
Government contributions
The Government provides care subsidies to ensure all residents receive the same standard of care in the residence.
Monthly Statements
Regular statements
Statements are issued early in each month and relate to the full month.
Direct debit transfer
Direct Debit is the preferred method of payment given it is processed mid-month normally from the account into which any pension is paid.
Other payment methods
We accept Bank Transfer and Cheque payments. We are not able to provide Credit Card or BPAY payment facilities.