Hi, im like every one else trying to work out the financial side of aged care, Mum and dad live on a cabin on my block they dont own their own home but rent this cabin from me, they have approx 110,000 in the bank 2 cars and a very small amout of furniture…they have been approved for the aged care package level 2 and respite care, now my question is what is it going to cost them to go into aged Care, even just for repite? they are fighting it but at some piont its going to happen , i understand its 85% of their pension plus what ever the means test is, how would that be caluculated in their circumstance? … thanks for any assistance you can offer
Respite is different to residential care. A noticeable difference in respite care compared with permanent residential care is that respite residents do not make any means-tested accommodation or care contributions. They can however be asked to pay the basic daily fee for living expenses, which is at the same rate as permanent residents.
Hi Frank, You are not alone. Working out aged care finances can be difficult. As far as costs of aged care, everyone’s circumstances are different depending on their financial situation. AgedCare101 is not allowed to give financial advice but I have attached a link from our website that allows you get an estimator of the costs based on information you supply: Aged Care Fee Estimator | agedcare101 Everyone who enters an aged care home has to pay the basic daily fee which is 85% of the single age pension. As of 20th September 2018 - 19th March 2019 that figure is $50.66. For some people the basic daily fee is all they will pay.eg as from 20th September 2018 - 19th March 2019 this would apply to each member of a couple on an annual income of $26,465.40 or less and own assets less than $47,500.As you would already know any Australian who wishes to have the government contribute to their aged care costs is required to submit an Income and Assets form to the Department vices. Respite care in a nursing home is available for up to 63 days every year. This can be extended in lots of 21 days if further assessment finds it necessary. The cost of respite care varies depending on your circumstances. With respite care through a nursing home you wont have to pay accommodation fees or any additional income tested fee. However you will be asked to pay a basic daily fee which is a prepayment of your respite care fees. This fee cannot amount to more than a full week’s basic daily fee or 25% of the fee for our stay depending on which is the lowest. The maximum basic daily fee for a respite resident is fixed at 85% of the single basic age pension. The final rate you pay for respite care will be agreed on between you and the Aged Care home before you receive the services. Finding the right aged care solution takes time and effort so I think you are very wise to be thinking ahead on behalf of your parents. I hope this helps Regards AgedCare101 Team