Fees and trust aged care
Aged Care fees are means tested, and there may be up to three levels of aged care fees applicable.
The basic daily care fee for residential aged care is set by the government and is based on approximately 85 per cent of the single maximum pension. Therefore, every six months, in line with the pension, the basic daily care fee will also increase.
Depending upon the individual’s means testing based on their income and assets via Centrelink or DVA, residents may incur additional fees above the basic daily care fee; such as an Accommodation contribution or payment, and Means Tested Care Fee.
All aged care services are regulated by the legislated fees set by the Australian Government Department of Health.
Fee accounts are sent in advance each month and are due and payable when received.
The McKellar Centre provides a free trust account service for all residents. Items such as pharmacy, newspapers, telephones, hairdressing, and kiosk purchases can be charged to your trust account to reduce the need for resident cash holdings.
If the resident receives a couple’s pension, the resident and spouse may both be entitled to single pensions, due to being separated on medical grounds.
Understanding costs can be daunting but it is a very important factor when considering which aged care service you choose for yourself or your loved one. Contact your accountant or financial planner for further information. You can also contact an aged care financial advisor for more specific information. The staff at the McKellar Centre are happy to provide you with a list of appropriate aged care financial planners, and to assist you with any questions you may have should you choose the McKellar Centre.
Last Modified: Friday, 24 December 2021
McKellar Centre, 45 - 95 Ballarat Road, North Geelong 3215
9am to 5pm, Monday to Friday
P 03 4215 5200