Fees and trust aged care
The basic daily care fee for residential aged care is based on a percentage (currently 85%) of a single maximum pension, therefore every six months in line with the pension increases the basic daily care fee will also increase. Depending upon the financial amount of a Centrelink or DVA asset assessment, residents may incur additional charges. Fee accounts are sent in advance each month and are due and payable when received.
The McKellar Centre provides a free trust account service for all residents. Items such as newspapers, telephones, hairdressing, kiosk purchases and pharmacy can be charged to your trust account to reducing the need for resident cash holdings.
If you are currently in receipt of a couple’s pension, the resident and spouse will now both be entitled to single pensions, due to the fact you are separated on medical grounds.
Each aged care service provider will have its own fee structure based on the services they offer. There may also be required an upfront bond payment (dependent on level of care required or type of service provided). However, all aged care services are regulated by the legislated fees set by the Department of Health and Ageing.
Understanding costs can be daunting but it is a very important factor when considering which aged care service you choose for yourself or your loved one. Contact your accountant or financial planner for further information. You can also contact an aged care financial advisor for more specific information. The staff at the McKellar Centre would be happy to provide you with a list of appropriate aged care financial planners, and to assist you with any questions you may have should you choose the McKellar Centre.
Download: Maximum Accomodation Prices (April 2019)
Last Modified: Monday, 15 April 2019