Below you'll find a list of all posts that have been categorized as “Guide for aged care”
Aged care ratings are still reasonably new in the ever changing world of aged care. Understanding the quality of service provided by care facilities is so important when choosing care for a loved one. The Australian Government implemented a Star Rating system which was introduced in December 2022, to help individuals assess the performance of aged care homes. This system …
When you or a loved one is transitioning into aged care, it’s easy to feel overwhelmed by the sheer complexity of the system. As an aged care financial advisor in Melbourne, my passion is helping navigate the maze of aged care rules and regulations. Here are the top three things I wish people knew before starting the process. These insights …
Each person has their own circumstances, you may be in a position where you are weighing up if you need to sell the family home to afford aged care costs, specifically the RAD. With so many variables and a lot to consider, there is no simple answer, however providing specific financial advice for aged care is what we do. What …
A regular enquiry we get from overwhelmed family members is: how to we reduce aged care costs? In most cases, the way to reduce aged care costs is to ensure the person entering aged care has minimised their assets. This will ensure they are receiving the maximum benefits towards the cost of their care and also ensure they are receiving …
Transitioning a loved one to an aged care facility is not an easy move. However, in most cases, it is recommended from a doctor to provide them the care they require. Transitioning a loved one to aged care can be challenging for all family members involved and can lead to feelings of guilt, worry, and helplessness. Here are some tips …
This is one of the common questions when people come to me for aged care financial advice. The answer is: if you receive a means-tested pension then the decisions you make about funding your aged care can affect your pension entitlement. The accommodation payment component of the aged care costs is exempt from the calculation of pension under the asset and …
There is a point where you reach an age and the relationship between child and parent has changed. It very well may be that point in life where it is now your responsibility to start caring for your elderly parents’ needs. It is time to start aged care planning. There are so many things to consider when making the difficult …
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 …
