Explaining nursing home costs. Understand the upfront and ongoing charges

Nursing home costs (or Aged Care Facilities as they are now called) are made up of the following components: • Accommodation Cost• Basic daily fee• Means tested care fee• Extra service or Additional service fee. The accommodation cost is determined after completing an income and assets assessment with the “Department of Human Services” or “Department of Veteran Affairs”. A resident will be …

What is the Refundable Accommodation Deposit and how is it paid? (previously known as an Accommodation Bond)

The Refundable Accommodation Deposit (RAD) explained The Refundable Accommodation Deposit (RAD) forms part of the nursing home costs (there are four different costs involved – the RAD, the basic daily fee, the means tested care fee and the extra or additional service fee). The Refundable Accommodation Deposit (RAD) is an upfront deposit that covers ‘rent’ of your room for as long …