The Commonwealth government of Australia regulates the fees payable by a resident in an aged care facility. These fees are regularly indexed by the government and can be obtained on the Department of Social Service website or by contacting: https://www.myagedcare.gov.au/ or,
Telephone – My Aged Care information portal line: 1800 200 422
Standard Resident Contribution
This is the general accommodation fee which is required to be paid by all residents and is linked to the Aged Pension. The Standard Resident Contribution is $48.25 per day.
A permanent resident with assets over $46,500 will be asked to pay an accommodation contribution.
When calculating the accommodation contribution, all residents must be left with a minimum of $46,500
If you are required to pay for your accommodation, you now have greater choice in how you pay.
You can use a:
- lump-sum payment, called a ‘refundable accommodation deposit’ (RAD)
- regular rental-type payment called a ‘daily accommodation payment’ (DAP), or
- a combination of both
Refundable Accommodation deposit
If you choose to make your payment as a lump sum, this is called a ‘refundable accommodation deposit’. A refundable accommodation deposit works like an interest-free loan to an aged care home. The balance of the deposit is refunded when you leave the aged care home less any amounts you have agreed to have deducted.
Daily Accommodation Payment
Instead of paying for your accommodation as lump sum you can choose to pay as periodic payments. The amount you pay is based on a daily rate which is why this type of payment is called a daily accommodation payment. However, you will pay in instalments up to a month in advance, as agreed with your service provider. Daily accommodation payments, unless you have paid in advance, are not refundable if you leave the aged care home.
Using a combination of both
You can choose to pay for you accommodation as a part lump-sum refundable accommodation deposit and part rental-type payment known as ‘daily accommodation payments’.
Payment Options at Edward River Gardens
Maximum RAD $290,000
Standard DAP $48.25
Combination example – 80% payments by lump-sum refundable accommodation deposit and 20% rental-type daily accommodation payment.
For a more detailed explanation of the above go to: