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

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 as long as you need it. …

When Does The RAD Get Refunded?

A question often asked on our articles or through calls to our office is when does the RAD get refunded? There are three main situations when this happens. A resident passes away In this case, the Refundable Accomodation Deposit (RAD) (less any allowable amounts deducted from care provided) has to be refunded within 14 days of the provider receiving: Moving …

Refunding the Refundable Accomodation Deposit (RAD): How It Works

When it comes to aged care in Australia, there are a lot of rules and regulations governing the administration and one of the questions we are often asked around refunding the refundable accomodation deposit and to whom. This is especially relevant when family members are offering to pay the RAD on a residents behalf. The RAD can be anywhere from …

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 …

How To Reduce Aged Care Costs

At Aged Care Specialists Vic, we often have overwhelmed family members come to us and ask how to 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 …