aged care
For some people, even the thought of Aged Care can be an overwhelming prospect.
When you or a loved one is at the point of needing to move to Aged Care, it is usually at a time that is already stressful, and a decision needs to be made quickly.
We can assist with the financial decision making by providing multiple strategies on how to fund the upfront and ongoing Aged Care costs, determine how Centrelink Age Pension entitlement will be affected, help restructure assets and liaising with Centrelink and the Aged Care Provider.
What are the options when it comes to aged care?
Everyone’s needs in Aged Care different. To be eligible for Aged Care, you first need to be assessed by an Aged Care Assessment Team (ACAT).
This assessment determines the package that you will be offered. Initially, you may need assistance with day-to-day household chores and with meal preparation. This assistance will be delivered via a Home Care Package. Home Care Packages are designed to allow you to stay in your own home for longer. The level of care increases as you become less able to care for yourself.
When you are no longer able to stay in your own home you will have the option to move to Aged Care.
Moving to Aged Care is a big decision. Aged Care facilities offer different services and it is worthwhile to visit a number of providers. You need to consider that the Aged Care facility will be your home and you want to be happy with your decision.
There will be a number of factors to consider to fund the cost of care. Keep the family home, sell the family home, fully or part pay the RAD, will Centrelink benefits be affected. How these options affect the Aged Care fees need to be discussed.
What outcomes are we trying to achieve when looking at aged care?
In any Aged Care strategy we are trying to achieve the best outcome for the person in care.
Their well-being and ensuring they have enough to fund their Aged Care costs is of paramount importance.
questions clients always ask about aged care
Aged Care is usually being discussed at a time of crisis or stress that may affect the decision-making process.
The cost of Aged Care varies as it is asset and income tested.
Aged Care introduces a whole new language talking about RADs, DAPs and Means Tested Fees.
The Refundable Accommodation Deposit (RAD) can seem an unaffordable amount but regardless of a person’s financial circumstances there is usually a way to afford the costs of Aged Care and provide a comfortable care environment for you or your loved one.
how much does aged care cost?
All Aged Care scenarios seem to present options rather than one best solution. Depending on the level of care you or your loved one needs - and whether you wish to enter aged care early or only when the need arises - can affect the option that best suits you.
Please contact us if you would like to discuss further.