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Couples Entering Care

When a couple is entering into Residential Aged Care consideration needs to be given to the timing of their move and the impact this can have on their means assessment.

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Pre-2014 Reforms

Prior to 1 July 2014 Residential Aged Care was categorised into three types; Low Care, High Care and Extra Services. A different financial arrangement applied to each and while some facilities offered only one type of care others had more than one — and perhaps all 3 — in the same facility.

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Means Tested Care Fee

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).

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Former Home and Rent

For most people looking at funding aged care the biggest decision they face is whether to keep (and possibly rent) or sell the former home

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