How much does aged care cost? Residing with Regis means that you may need to either pay a one-off payment/deposit, as well as ongoing fees for your care, accommodation and daily living expenses.
Basic daily fee
This covers living costs such as meals, utilities, cleaning and laundry. For some people this is the only fee they are required to pay.
Means-tested care fee
This is an additional contribution towards the cost of care and not all people that move into aged care will be required to pay it. The Department of Human Services will make an assessment to see if you need to pay this fee. This assessment is based on an evaluation of your income and assets, and they will advise you of the amount.
There are annual and lifetime caps in place to limit the amount of the means-tested care fee you will need to pay. This means tested care fee offsets a reduction in the subsidy paid to providers for residents with means.
This is for your accommodation in the aged care home.
Some people will have their accommodation costs met in full or in part by the Australian Government, while others will need to pay the accommodation price agreed with the aged care home.
Note: As of 1 July 2014 the Australian Government changed the way older Australians entering aged care pay for their accommodation costs. All residents who can afford to have the choice of paying for their accommodation through a Daily Accommodation Payment or Contribution or a Refundable Accommodation Deposit or Contribution, or a combination of both. To find out more about these changes please visit www.myagedcare.gov.au
Fees for extra or additional optional services: additional fees may apply if you choose a higher standard of accommodation or additional services. These vary from Home to Home. Further information is available from the Home.
How much home care cost? Home care costs covers services that are provided to you in the comfort of your own home. Government funding (full or partial, as per assessment) will cover your basic needs for you to stay independent and living at home.
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