How much you pay for aged care support depends on the type of help you need, the provider you choose, your financial situation, and the services you receive.
The type of fees and costs you may have to pay depend on what type of care you have been assessed as eligible for.
A survey conducted by Flinders University’s Caring Futures Institute of more than 10,000 Australians not using aged care (which was commissioned by the Royal Commission into Aged Care Safety and Quality) found that 72 percent were willing to pay more to access aged care at home to avoid entering residential care. Our in-home support services help Australians maintain their independence, offering tailoredand flexible options, from 1 hour right through to 24 hour care. Whilst it is important to seek advice from your financial planner or an aged care finance expert, this table below will help you understand main differences in costs between in-home care and residential care.
|Residential Care||Prestige Inhome Care||What you need to know|
|Basic Daily Fee|
Basic Daily Fee set at 85% of the single person age pension at a cost of $51.63/ day
$0 Basic Daily Fee (hourly fee approximately $58.60)
This is paid by everyone entering an aged care home and is used to contribute towards day-to-day living costs such as meals, cleaning, laundry, heating and cooling. Adjusted twice annually in-line with the age pension.
Means Tested Care Free
Means Tested Care Fee is the amount a resident is asked to contribute according to assets and income calculations at a cost of $75.43/day*
Average Means tested based on an individuals income and assets. Up to $252.20p/day capped at $27,754 annually and a $66,611 lifetime cap. Means Tested Care Fee is not required for in-home care services.
Additional and Extra Service Fees
Extra and/or Options Services Fee is an additional fee charged by some facilities for higher standard accommodation or additional services (not all facilities charge this but if charged, generally between $5.00/day and $80/day)
An extra service fee is generally for a higher standard or accommodation. Optional services may include Netflix, hairdressing, newspapers. Not all facilities charge an additional service fee. Extra and/or Options Services Fee is not required for in-home care services.
Only in-home care services enable individuals to pay for services on an hourly rate allowing for more flexibility and control over the amount and type of services.
RAD – $600,000 -$1 Million
RAD is paid as lump sum when entering an aged care home and refunded in full when leaving the home. The facility may negotiate the RAD (previously known as a bond) with the resident. The RAD is not required for in-home care services.
RAD – Refundable Accommodation Deposit (this is similar to an interest free loan from the resident to the facility and will be refunded in full or in part when they leave the facility)
Our In-home Care is tailored to suit you or your loved one’s needs. This is how the program works.
Call our experienced team on 1300 10 30 10 to discuss your needs and current situation.
You will be introduced to your own dedicated Case Manager during a free, no-obligation in-home consultation. Your Case Manager will conduct a care needs assessment and develop a tailored care plan. Your Case Manager will be available to assist you at no additional cost.