When discussing aged care there are a few different types of care this can refer to within Australia. Commonly, when referring to aged care, this is referencing residential care, otherwise known as an aged care home or nursing home. Other options that may spring to mind are in-home care or short-term, respite care. This information specifically looks at aged care delivered in a nursing home model.
The average cost of aged care in Australia varies from senior to senior. While the Australian government funds aged care providers to keep costs affordable, there may be a few fees to pay out of pocket. Generally, aged care costs heavily depend on a senior’s needs, such as the style of accommodation, amenities provided, and level of care required.
Australia’s government subsidises aged care homes and enforces maximum daily fees to ensure that they are affordable and accessible, which means they can pay for part or all of the costs. However, how much financial assistance is received will depend on the Australian Governments’ assessment of a senior’s income and assets.
After financial assistance, some seniors may need to pay for some aged care costs out of pocket. These costs will depend on their income and asset assessment and what type of care and accommodation they need.
Fees and costs of aged care can vary across facilities, but most fees can be classified into these main categories.
There are daily, annual and lifetime limits on the means-tested care fee, which can change based on the government’s indexation. Once the annual and lifetime limits are reached, the means-tested care fees will no longer be required.
For more information on fees, visit My Aged Care.
Aside from considering aged care costs, you or your senior loved one will have to consider several other factors. The goal is to find the perfect balance between a senior’s needs, budget and personal preferences.
Consider these factors when deciding on an aged care home:
At LDK, our Aspire Aged Care takes a completely different approach to aged care costs. At LDK, it is our vision that every senior Australian is to be treated with Love, Decency & Kindness in their ageing journey.
Aspire Aged Care delivers aged care differently to traditional aged care. We take a different approach to the traditional pricing within the retirement living and aged care sector. We centre our model around what matters most – our residents. We’ve taken the elements that make sense from both the retirement living and aged care sectors and left out the parts that don’t.
Whether you need short-term respite care or want a long-term independent living plan, you can discover senior living like no other at LDK. Take a look at our Greenway Views village in Tuggeranong and The Landings village in North Turramurra and see the incredible level of care for yourself.
If you’re interested in what LDK has to offer for yourself or a loved one, contact us today.