I think I have a reasonable understanding of the fee system, but I’m not clear about a resident who would have a means tested fee higher than the annual cap.
If the annual cap is $26,380.51, does the resident pay 1/12 of the cap each month, or do they pay their own assessed means tested fee at the higher rate until the cap is reached? In the second case, that might mean they pay a higher amount for the first 6 months of the year until they reach the cap, then for the rest of the year pay no means tested fee.
There would be cash flow considerations.
Our response from Affinity Aged care financial Services as follows:The second case is correct. The means tested care fee is charged at the assessed amount until the cap is reached. Once the cap is reached then the resident will no longer be liable to pay the means tested care for the remainder of the year. They will recommence paying the means tested care fee on the anniversary of the date they entered permanent care. The resident would need to take this into account when looking at their cashflow and managing their expenses in the first part of the year.
I have forwarded your query to Affinity Aged ACre Financial advisers and will forward their response when avaialable.RegardsJill