Category: Ready Reckoner, Glossary & Quick Calculator

Calculating Aged Care cost – which forms do I need? Completing a means assessment isn’t mandatory. But if you don’t, you may be asked to pay the maximum income tested care fee for Home Care, or the maximum means tested care fee and the agreed room price for Residential 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