Anyone entering aged care will be asked to pay.Covers your day-to-day living costs, including services such as meals, cleaning and some utilities.Calculated at 85% of the basic rate of the single aged pension, currently $61.96 per day.An amount based on your current income and assets.Contingent on an Income & Assets Assessment by the Department of Human Services.Annual and lifetime caps apply.This covers optional services as agreed by you and your residenceThese will vary from residence to residence
You may be expected to contribute financiallyA lump sum paid as you enter your residence or within six months of entry.A fully refundable remaining balance when you leave.A daily fee paid at set periods (usually monthly) during your time in the residence.All DAPs are non-refundable.The DAP is calculated by multiplying the applicable Maximum Permissible Interest Rate (from 1st April 2024 8.34%) by the portion of your agreed RAD amount and dividing this by 365.Pay a percentage of an agreed amount upfront as a RAD and then pay the rest over a set period as a DAP.
Flexibility to choose your RAD to DAP ratio.The higher your RAD, the lower your DAP—the Maximum Permissible Interest Rate will be applied to the DAP unpaid amount.This covers optional services as agreed by you and your residence.These will vary from residence to residence.Disclaimer: The Commonwealth Government subsidises a number of aged care services but if your circumstances allow, you may be expected to contribute financially. Fortunately, there are protections in place to make sure your care remains affordable.