Nursing Home Costs: All You Need To Know

Nursing home costs (or aged care facilities as they are now known) are made up of the following components: accomodation costs, daily fee, care fee and extra fee/service fee. The accommodation cost is determined once an income and assets assessment is completed. This is arranged through either the Department of Human Services or Department of Veteran Affairs. A resident will be classified …

Low Means Aged Care –What You Need to Know

When it comes to aged care in Melbourne, there are two main categories when it comes to assessing the requirement to pay for care. These are ‘market price’ or ‘low means’. If assessed as having the means to pay market price, the resident is required to pay the market value for their aged care accommodation. This includes daily payments, lump sum or …

STRC: All You Need To Know

What is Short Term Restorative Care? Short Term Restorative Care (or STRC) is where you’re able to access a range of different services and support, for up to eight weeks, twice per 12-month period. Services include things like home maintenance, mobility aids or other equipment, health services such as physiotherapy and podiatry, daily assistance with cooking and cleaning, mental and emotional …

Should I Pay for my Parent’s Refundable Accomodation Deposit?

Navigating aged care and the costs associated can be a nightmare. One of the biggest hurdles to face is coming up with the required Refundable Accommodation Deposit (RAD). To enter an aged care facility, usually a large sum is required and often, families want to pay their parent’s RAD to potentially prevent them having to sell the family home. And while …

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 …