From 1 July 2014, the Federal Government made significant changes to the way your aged care facility fees are calculated. These changes are intended to ensure that all Australians, regardless of means, will be able to enter a care facility.
Feros Care is accredited by the Australian Aged Care Quality Agency as an approved provider of government subsidised aged care to eligible residents.
To be eligible for Federal Government assistance towards your aged care home costs, your income and assets will need to be assessed by Services Australia or the Department of Veterans’ Affairs. The aged care means test determines if the Government will contribute to your aged care and accommodation costs and if you need to pay the means-tested care fee.
How Care Fees Are Calculated
May 30, 2018, 12:59 PM
Step Number: 3
Basic Daily Care Fee
The standard resident contribution From 1 July 2021 to 30 September 2021, the maximum basic daily fee for new residents (including respite residents) is $52.71 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 $28,338.71 per annum with a $68,012.98 lifetime cap).