What is the Refundable Accommodation Deposit and how is it paid?

The Refundable Accommodation Deposit (RAD) explained The Refundable Accommodation Deposit (RAD) forms part of the nursing home (aged care) costs (there are four different parts 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 …

How Short Term Restorative Care Can Help You To Remain Independent

Maintain your own independence for as long as possible At Aged Care Specialists Vic, we understand how important it is to maintain your own independence for as long as possible. To keep you living happily and safely within your own home. Which is why we love being able to demystify aged care, and all of your retirement planning. We know …

Market Price Vs Low Means – Do you really know which you are?

Be aware of the benefits and disadvantages of being assessed as ‘low-means’ or Market price eligible When it comes to residential aged care in Melbourne, you’re generally put into one of two main categories when it comes to what you need to pay for your care – ‘market price’ or ‘low means’. If you’re assessed as being capable of paying …

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 …