Category: Technical Library

Low Means

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.

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ACG Adviser Glossary RESIDENTIAL AGED CARE

Accommodation bond    For those who entered care prior to 1 July 2014, the amount payable for permanent entry to an aged care facility (low care or extra service). The accommodation bond could be paid by lump sum, periodical payment or a combination of the two. The amount of accommodation bond paid (less any retention) is guaranteed by the government.      Accommodation charge    For those who entered care prior to 1 July 2014, the daily fee payable for permanent entry to an aged care facility (high care) for residents who are not fully government supported. The amount of accommodation charge payable depended on assessable assets and was fixed at the date of permanent entry.      Accreditation    Aged care facilities are required to comply with the accreditation standards set out in the Aged Care Act 1997 to be eligible to receive government funding.       Aged Care Assessment Team (ACAT) or Aged Care Assessment Service (ACAS) in Vic    An ACAT (or ACAS) assessment is required to access government-funded aged care services. The team is made up of health professionals including doctors and nurses, and their assessment determines the types of services for which a person is eligible. The outcome is provided in writing and is known

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Income Support Payments

An income support payment is a regular payment that helps you with living costs. An income support payment includes: Age pension, austudy, bereavement allowance, carer payment, disability support pension, farm household allowance, ewstart allowance, parenting payment, partner allowance, sickness allowance, special benefit, widow allowance, wife pension, youth allowanace. In addition; DVS ISP include income support supplement, service pension and veteran payment.

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Loans to fund a RAD

Loans from family to fund a RAD have impacts on the cost of care and potentially estate planning. The Aged Care Act 1997 does not preclude a family member of a resident making a contribution towards their accommodation payment.  However, an aged care provider must not accept a lump sum payment which would leave the resident with less than the minimum permissible asset level within 28 days of entry and the provider has sufficient information to know the person’s means.

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Home Care Overview

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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Category: Technical Library

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