Aged Care Services


In late 2017, the Government released the Aged Care Legislated Review. This review considered the impact and effectiveness of changes made by the Living Longer Living Better reforms implemented in 2013 and makes recommendations for the future reform of aged care.

Given the size of Australia’s ageing population, aged care planning is becoming more complex every day, particularly in relation to the financial costs of accessing aged care services whether that be at home or in a residential aged care facility.

Depending on your circumstances, there are many issues that need to be considered and understood prior to deciding on a way forward. Specifically, 

− Understanding what fees will need to be paid

− Retaining / maximising social security entitlements 

− Minimising aged care fees 

− Dealing with Assets including the home if moving into an aged care facility 

− Investment advice 

− Cashflow management 

− Protecting asset values 

− Estate Planning

In relation to costs of residential care we need to consider:

Basic daily fee 

  • Payable by all residents as a contribution for day-to-day living costs such as meals, cleaning, laundry, heating and cooling
  • Equivalent to 85% of the basic single person Age Pension
  • Currently $51.21 per day (residents in designated remote areas may pay $1.06 per day more)

Accommodation payment /contribution

  • Cost of accommodation which may be payable depending on assets and income as well as choice of room
  • Accommodation payment – Payable by residents not eligible for government subsidy in respect of cost of accommodation
  • Accommodation contribution – Payable by residents eligible for partial government subsidy in respect of cost of accommodation

Means-tested care fee

  • Contribution towards cost of care which may be payable depending on assets and income
  • Subject to annual and lifetime caps

Additional charges / Extra services fee

  • Any other amounts agreed between the resident and the residential care facility

Reliable Support and Advice

Its important to understand the key decisions that will need to be made. Our role is to ensure you, as a client, understand your options and decisions are made with full awareness of its flow on impacts.

For help and to answer the many questions you will have please contact us.

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About RSA

At Retirement Services Australia, we give you all the tools and guidance they need to create an effective retirement planning solution, and we help you every step of the way. We employ retirement planning specialists who offer to help create financial strategies that will suit you for life. We work with you to solve the matters we have touched on in this article. Our traditional clients are semi-affluent and affluent delegators who want to know what, why and when things need to happen but prefer to engage experts to do this work on their behalf.