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People who enter an Aged Care Facility after 1 July 2014 have their ability to contribute towards the cost of their accommodation and care calculated based on their assets and income. Refer to Residential Aged Care Means Test Factsheet. Where the calculated amounted is less the maximum accommodation supplement of $58.19 per day (as at 31 March 2020) the resident is classified as Low Means.
The Means Tested Care Fee applies to residents who enter aged care after 1 July 2014, including Low Means residents when they have a change of circumstances. The Means Tested Care Fee is used by the government to offset funding provided to the facility through the Aged Care Funding Instrument (ACFI). The amount the resident can pay is capped at the lesser of the calculated amount or their cost of care. There is also an annual limit of $28,087.41 and a lifetime limit of $67,409.85 (which includes any Income Tested Care Fees paid towards a Home Care Package).