Category: Fact Sheets

These aged care fact sheets are used to find quick answers to common questions and clarify any technical queries you may have. These are for you and your team to help you navigate retirement living and aged care advice.

Home Care Package Funding and Fees

Home Care Packages provide care and support to assist older people who want to stay in their own home. To be eligible to receive a Home Care Package, a person must be assessed and approved by the Aged Care Assessment Team (ACAT). ACAT assessments determine eligibility for Government Funded Care Services. An ACAT assessment remain valid indefinitely unless the approval was granted for a specific time period.

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Annuities

An annuity provides guaranteed regular payments for a set period of time in exchange for an initial capital investment. Unlike market linked retirement income streams, annuities give clients certainty – they know how much they will get and how long it will last.

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Means Not Disclosed

Neither the Aged Care Income Assessment (for determining an Income Tested Care Fee in Home Care) or the Combined Income and Assets Assessment (for determining someone’s ability to contribute towards the cost of Residential Aged Care) are compulsory. People who choose not to submit an assessment are referred to as “Means Not Disclosed” and can be charged their cost of care.

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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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Category: Fact Sheets

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