Aged Care Planning
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Let’s remove complexity of Aged Care
Sadly, the vast majority of older people go into aged care with no plan and usually completely unprepared.
This is often due to the fact that they might have a fall or other medical trauma and have undergone an Aged Care Assessment, often in a hospital and they are not allowed to return home due to health issues and inability to continue living independently.
As difficult as this change often is, our government has not been of much assistance, as it created a real nightmare of complexity that requires one to have a law degree to understand legal documents, fees structure and what can or cannot be negotiated.
Entering into aged care is costly and any decisions should be made after receiving suitable advice. Unfortunately, most families will ask for assistance after placing their family member into care, which in most cases might be more difficult, to make improvements, but still not impossible.
My Aged Care Avatar!
Katherine researched for me various financial options that resulted in a 35% drop in the Residential fees and yet not affect their full pensions. Plus Katherine set up an ongoing financial strategy giving me the security of knowing that my parents would be financially safe. I am so thankful for Katherine’s service as Aged Care is a minefield.
-Ella Maynard
Four types of Aged Care charges:
Basic Daily Fee
This fee covers daily living costs. For some people this would be the only fee that they are required to pay.
Means Tested Fee
An additional fee that some people are required to pay calculated by the Department of Human Services (Centrelink) based on your income and asset assessment.
Accommodation Fee
Some people will have their accommodation costs met in full by the government, others will need to pay the agreed accommodation fee.
Extra Services Fee
Additional (fully optional) fees that could be payable if you chose a higher standard of accommodation or additional services.
To ensure a suitable financial outcome, please contact me prior to undergoing an Income and Asset Assessment and before speaking to any Age Care facilities and disclosing any financial details.
Home provided services
Most people however prefer to stay in their own family home but may require some help with daily tasks. Currently this is a list of home services available to you.
- small home maintenance
- meals (service that will prepare and deliver meals to your home e.g. Meals on Wheels)
- domestic help (cleaning, shopping, dishwashing, ironing)
- personal care (assistance with eating, bathing, grooming, dressing)
- transport (assistance to move around to medical appointments, community engagements)
- and many others.
Commonwealth Home Support Programme or Home Care Packages could be helpful and allow postponing entering the Age Care facility.
Eligibility is being assessed by an Aged Care Assessment Team.
There is a cost involved for such assistance; therefore, advice can be beneficial in order to understand your options.
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