Category Archives: Aged care costs

Five ways to fund aged care

  Placing a parent in an aged care facility can be a distressing time for families. It is not a pleasant experience financially either. Since the federal government introduced aged care reforms in July 2014, collectively families have been forced to find an extra $3 billion a year to move an elderly relative into an

Continue Reading →

Residential aged care for pensioners

The government will subsidise aged care for elderly people with low means June Daley*, 93, shared her home with her daughter Marjorie, 66, for 15 years before she moved into residential aged care. The aged pensioner had savings of about $80,000 but nowhere near the $300,000 refundable accommodation deposit her preferred care home was asking. Marjorie

Continue Reading →

Inside aged care facilities

You’ve seen the brochures and driven past the building; but the only way to really know whether an aged care facility might be the right one for you is to look inside. First impressions count for a lot but it is also important to get an understanding of how they operate to know whether it

Continue Reading →

Home Vs residential care

Would you or your ageing parents, given the choice, prefer to grow old at home rather than moving into residential aged care? Whether it’s complex nursing, palliative care or help with daily chores that’s needed, leaving home is no longer always necessary for those requiring assistance. Not only are there growing numbers of government-subsidised home-care

Continue Reading →

The cost of aged care

The accommodation component of aged care is no small amount. Accommodation prices currently published by providers on the government website My Aged Care range between $50,000 and $2,000,000, with an average price of $359,000. The RAD is the lump sum payment which can charged by a facility. Those that can afford it will pay what

Continue Reading →