Category: Advice Library

A range of resources to assist advisers deliver great advice; SOA wording, checklists and department forms.  Up to date and easy to access resources for all our members.

SOA Wording Home care

Home care   Many people who need care are not aware that a variety of services are available for those who prefer to stay at home.    Home Care Packages provide Government subsidised services to assist people to remain in their home for as long as possible.   Services include:Personal care – such as help with showering or bathing, dressing, mobility, meal preparation and eating Support services – such as help with washing and ironing, house cleaning, gardening, basic home maintenance, home modifications related to care needs such as handrails in the shower, and transport to assist with shopping, visiting the doctor or attending social activities Clinical care – such as nursing, and other health support including physiotherapy (exercise, mobility strength and balance) and podiatry (foot care). Other services may also be provided eg you may benefit from aids and equipment to assist with mobility, communication or personal safety  What types of packages are available?  There are four levels of Home Care Packages:   Home Care Level 1 – to support people with basic care needs   Home Care Level 2 – to support people with low level care needs   Home Care Level 3 – to support people with intermediate care needs   Home Care Level

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SOA Wording – Funeral Bond or Prepay Funeral Expenses

Strategy Overview There is a two year general exemption that applies to your former home after entering aged care whereby the home is exempt from the assets test when calculating Age Pension entitlements. The purpose of this rule is to enable people to move back into their former home if they are able to do so. Any rental income received is fully assessable. After two years, the property will be included as an assessable asset and your pension will be assessed on the basis of a non-homeowner which provides a higher asset threshold. When calculating the aged care means tested amount, the former home value will be assessed up to a capped value of $171,535.20 unless a ‘protected person’[1] resides in the home, in which case the value of the home is exempt. A protected person includes: Your spouse or de-facto partner A carer who has resided in the home for at least 2 years who is eligible to receive an income support payment A close relative who has resided in the home for at least 5 years who is eligible to receive an income support payment Rental income from the former home will be included in the aged care

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Category: Advice Library

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