Before entering an Aged Care facility your health must be assessed to determine your eligibility for care. Any doctor, nurse or social worker that is a member of an Aged Care Assessment Team (ACAT) can perform the assessment. To make sure you find a home you are comfortable in and that will suit your needs, you may like to visit a few different places. You can apply to as many homes as you like. The accommodation costs for all aged care facilities are published on the Governmentâ€™s Aged Care website www.myagedcare.gov.au
Find out if there is an accommodation payment payable and what assets you can use to meet the costs. We can help you determine how to pay for accommodation. This may involve a lump sum payment, regular instalments or a combination of both. In addition, determine which on-going fees apply to you. This could include a basic daily fee, a means tested care fee and any extra service fee. There are strategies to minimise fees you pay. Keeping or selling your home often forms part of the strategy, as does how you invest. A poorly executed plan can result in a lower Age Pension and higher fees.
You need to understand the various options and strategies available to you regarding your primary residence. We can help you decide if it is best for you to keep or sell the family home. If kept, we can determine the best way to structure the accommodation payment to ensure the family home does not affect your Centrelink tests. If sold, we can also help with the best way to invest the proceeds and get the balance right between generating an income, maximising the Age Pension and minimising aged care fees.