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What does aged care cost?
Residents in Australian Government subsidised residential aged care can be asked to pay fees as a contribution towards accommodation costs, living expenses and the cost of their care. There are strong protections in place to ensure that care is affordable for all residents. The Government recognises that not all residents can pay for the entire cost of the care they receive, so provides substantial subsidies to assist with these costs.
The companies or other organisations that run aged care homes may ask residents to pay two main types of charges based on income and assets – daily fees (more information) and accommodation payments (more information). The government calculates and regulates maximum daily fees.
Fees vary according to people's assets and income when they entered care, and what type of care they receive. This website will help you to understand how these fees and payments are calculated, based on your financial circumstances and your particular care needs.
Read more: Fees and Charges for Residential Aged Care
Read more: What will I pay?
Financial information
Your financial decisions, for instance about how you pay an accommodation bond or charge, can have different effects on pensions, aged care fees and tax. It’s a good idea to seek expert financial advice to help you make the decisions that are best for you.A free financial information service is available through Centrelink. It provides information about using your money to best advantage and how the pension income and asset test works. You can contact Centrelink on 13 23 00.
Common questions on this topic:
- How much does residential aged care cost?
- What happens to my bond if I change homes?
- What are considered to be 'assets' when working out finances for payment purposes?
See all common questions