Care Fees
Basic Daily Care Fee
All residents pay a Basic Daily Care fee which is a contribution towards daily living expenses including meals, cleaning, power, laundry and also nursing or personal care.
The Basic Daily Care fee is set by the government and is 85% of the single person rate of the basic Aged Pension. It is indexed and will increase twice a year in line with pension increases.
Means-tested Care Fee
The means-tested care fee is an additional contribution towards the cost of aged care that some people may be required to pay. Services Australia (Centrelink) will work out if you are required to pay this fee based on an assessment of your income and assets (the aged care means test), and will advise you of the amount.
Accommodation Fees
In addition to Aged Care Fees, residents with sufficient assets and income will be asked to pay either an Accommodation Payment or an Accommodation Contribution. Residents cannot be asked to pay both. This fee is for your accommodation in an aged care home.
Some people will have their aged care accommodation costs met in full or in part by the Federal Government, while others will need to pay the accommodation price agreed with the aged care home.
The amount you pay for your accommodation will be based on your income and the outcome of your aged care assets and means test, and will be one of the following:
No accommodation costs: If your income and assets are below a certain amount, the government will pay your aged care accommodation costs.
An accommodation contribution: If you are required to pay part of the cost of your aged care accommodation, the government will pay the rest.
An accommodation payment: If you are required to pay the full cost of your aged care accommodation.
How to pay your accommodation fee
The Accommodation Fee will be your agreed price for your room. The payment will be detailed in your Feros Care Pre-Admission Agreement that you are required to complete and sign before you enter into care.
You can choose to pay your accommodation costs by:
- a lump-sum style ‘refundable accommodation deposit’ (RAD)
- a rental-type payment called a ‘daily accommodation payment’ (DAP), or
- a combination of both.
You will have 28 days from the day you entered care to confirm your payment method.
While you are deciding, you must pay your accommodation costs by the rental-type payment method. If you don’t advise us how you wish to pay after 28 days, fees will continue as a daily accommodation payment.
Aged care homes cannot refuse you a place based on how you want to pay for your accommodation.
Further information on the Means-Tested Care Fee, Care and Accommodation Fees can be obtained from the My Aged Care service on 1800 200 422 or at www.myagedcare.gov.au.
How Care Fees Are Calculated
Basic Daily Care Fee
The standard resident contribution from 20 September 2024, the maximum basic daily fee for new residents is $61.96 per day. This rate increases on 20 March and 20 September each year in line with changes to the Age Pension. This fee is based on 85% of the single person rate of the pension.
PLUS, if you have income/assets above the thresholds as determined by the government:
- An Accommodation Payment or Accommodation Contribution plus;
- A means-tested care fee (which is capped at $33,309.29 per annum with a $79,942.44 lifetime cap).
How Accommodation Fees Are Calculated
Daily Payments and Daily Contributions
Residents may elect to pay a Daily Payment in lieu of part or all of a Refundable Deposit.
The resident can ask for the Daily Payments to be calculated on the unpaid portion of the Accommodation Payment to be withdrawn from any Refundable Deposit paid. Withdrawing Daily Payments from the Refundable Deposit will reduce the Refundable Deposit balance and increase the unpaid portion of Accommodation Payment, resulting in a higher Daily Payment being payable.
In the same way, you may withdraw Daily Contributions from any partly paid Refundable Contribution and this will result in a higher Daily Contribution being payable.
Refundable Deposit/Refundable Contribution
You must be left with a minimum of $59,500 of assets after paying your Accommodation Payment partly or fully by Refundable Deposit or paying your Accommodation Contribution partly or fully by Refundable Contribution.
Part Payment or Deposits
Residents may pay a part-payment or a deposit on the Accommodation Payment amount from their date of entry (but not before). A deposit of 10% or 15% is common. By doing this, the interest payable (Daily Payment) on the outstanding Accommodation Payment will be lower. Any Daily Payments can also be withdrawn from this part-payment or deposit.
Withdrawing Daily Payments from Refundable Deposits
Residents can ask for their Daily Payments (calculated on the unpaid portion of their Accommodation Payment) to be withdrawn from any Refundable Deposit paid. Withdrawing Daily Payments from the Refundable Deposit will reduce the Refundable Deposit balance and increase the unpaid portion of the Accommodation Payment. This would result in a higher Daily Payment being payable.
What About my Family Home?
Your home is excluded from Accommodation Payment assets test calculation when the following applies:
- your spouse remains in your home; or
- you have had a carer living with you for two years or more and they were on a Federal Government benefit or pension; or
- you have had a close relative living with you for five years or more, and they were on an Federal Government benefit or pension.
NB: No repayment of any part of the Refundable Deposit or Refundable Contribution will be made to any representative of any deceased resident before a copy of a Grant of Probate or Letters of Administration in respect of the resident’s estate is received.
Hardship
If paying any of the determined fees and charges would cause you financial hardship, we can assist you to make an application to the Federal Government for relief from accommodation payments.
Further information on applying for Financial Hardship can be obtained from the My Aged Care service on 1800Â 200Â 422 or at www.myagedcare.gov.au.
Appointment of Nominee
You can nominate someone to act on your behalf in dealings with the Services Australia (Centrelink) about the cost of your aged care, including any specific fees.
To appoint a nominee, you should complete an Appointment of Nominee form.
Explanation of Payment Options
Residents can choose to pay for their accommodation by a refundable accommodation deposit (RAD), a daily accommodation payment (DAP), or a combination of both. A refundable deposit is paid as a lump sum amount.
A daily payment accrues daily and is paid periodically, for example fortnightly. A combination payment includes both a partial lump sum and daily payments.
Feros Village Bangalow
| Room | Refundable Accommodation Deposit (RAD) | Daily Accommodation Payment (DAP) | 50% RAD | 50% DAP |
|---|---|---|---|---|
| Single Room in the cottage (Type 1) | $400,000.00 | $91.40 | $200,000.00 | $45.70 |
| Single Room in the cottage (Type 2) | $475,000.00 | $108.54 | $237,500.00 | $54.27 |
| Single Room in the Homestead | $350,000.00 | $79,98 | $175,000.00 | $39.99 |
Feros Village Wommin Bay
| Room | Refundable Accommodation Deposit (RAD) | Daily Accommodation Payment (DAP) | 50% RAD | 50% DAP |
|---|---|---|---|---|
| Single Room | $349,000.00 | $79.75 | $174,500.00 | $39.88 |
Accommodation prices are subject to change. Valid as of 18 April 2024.
For further details on payments please call us on 1300 090 256.
