Optimum Aged Care Lifestyle Living
Required Documents for admission to a residential aged care facility include:
The 501 Care
ACAT Assessment/Support Plan: An Aged Care Assessment Team (ACAT) document your details and determine the most appropriate type of care and services you require. Your local GP can arrange for a referral for an ACAT Assessment or alternatively you can contact ACAT directly on 1300 130 143 or email: firstname.lastname@example.org. A member of the ACAT can travel to your home to complete the assessment.
National Screening and Assessment Form: The Department of Social Services, My Aged Care staff will document your details over the phone and determine the most appropriate type of care and services you require.
Centrelink/DVA Assets Assessment (This is a means tested fee): If you are applying for a financially supported residence, an Assets Assessment is required. A summary of your income and assets assessment is used by the Department of Human Services to determine your daily fees. You are able to request an assessment prior to entering an aged care facility. To request an assessment prior to entering aged care, complete and lodge the Combined Assets and Income Assessment (SA457) form.
This form can be obtained from the Department of Human Services (or the Department of Veteran Affairs). The Department of Human Services (or Department of Veterans' Affairs) will conduct your income and assets assessment. When your income and assets assessment is completed, you will receive a letter from the Department of Human Services or the Department of Veterans' Affairs. The letter will outline the fees you may be asked to pay by the aged care facility based on the assessment of your income and assets. This letter will also include an itemised list of your income and assets and will be valid for 120 days from the date of the letter.
If you have not completed the asset assessment prior to entering the aged care facility you will be required to fill out the Permanent Residential Aged Care – Request for a Combined Assets and Income Assessment (SA457) form ASAP. The Department of Human Services (or Department of Veterans' Affairs) will conduct your income and assets assessment. They will advise you and the aged care home of the fees payable for your circumstances. If your income and assets assessment is not completed, you will not be eligible for any Australian Government assistance towards your aged care home costs. This means the aged care facility may ask you to pay the full cost of your care and the maximum accommodation payment you agreed upon. The time it will take for your assessment to be completed by the Department of Human Services or the Department of Veterans' Affairs will depend on the type of assets you hold and could prove to be costly if not organised ASAP.
Fees and Charges
Your Fees for Aged Care at 501 Care Centre cover both the care you receive and your accommodation, and sometimes, extra services you may elect to utilise and pay for such as our in house hairdresser.
Care Fees consist of:
Basic Daily Care Fee: This is a general daily living fee determined by the government. This fee covers daily living costs such as nursing care, housekeeping and meals. This fee is set at 85% of the aged pension and varies in line with government increases in which occur on a six monthly basis. Currently the daily care fee is set at: $58.98 (20 March 2023)
Means Tested Fee: This fee is based on your Income & Assets Assessment as discussed in detail above under the heading Centrelink/DVA Assessment. (These fees are capped annually and over a resident’s lifetime). The means tested fees are an additional contribution towards the cost of care that some people may be required to pay. Behind every aged care resident is a certain level of government funding and the Means Tested Fee ensures that residents, who have the income & assets to do so, help contribute towards their own funding. This fee is not retained by 501 Care Centre.
Accommodation Fees consist of:
Refundable Accommodation Deposit (RAD): A refundable accommodation deposit is a lump sum payment which works like an interest free loan to 501 Care Centre. RAD amounts are published on the My Aged Care websites. The RAD amount is dependent on a variety of factors such as type of room and availability. The maximum RAD that can be charged by a facility is $550,000
The deposit is fully refunded when you leave the aged care home, less any amounts you have agreed to have deducted.
Daily Accommodation Payment (DAP): The daily accommodation payment is a rental type payment. Instead of paying for your accommodation in full (as a RAD) you can choose to pay it as a daily payment. The DAP is calculated by multiplying the RAD amount by the government legislated interest rate (Currently 7.06% 1st January 2023 – 31st March 2023)(7.46% - 1st April 2023 - 30 June 2023) Daily accommodation payments, unless you have paid in advance, are not refundable if you leave the care home.
Combination of Refundable Accommodation Deposit (RAD) & Daily Accommodation Payment (DAP): You can choose to pay your accommodation as part RAD and part DAP. If you choose a combination of RAD & DAP and you elect to have the DAP taken from the RAD, your DAP payment will increase over time as the RAD amount is reduced.
N.B Please refer to the Department of Social Services for the most up to date Schedule of fees & charges.