Partially Supported Residents
With the information provided, the person(s) moving into care would be considered a Partial Supported Resident. This means the following:
Care Costs
Fees Associated with Partially Supported Residents include:
- The Basic Daily Care Fee – Currently $63.57 per day which is 85% of the basic pension. The Basic Daily Care Fee is indexed and will change twice a year in line with the pension.
- Means Test Fee – As a partially supported resident you will not pay this fee unless your financial situation changes.
- Additional Service or Extra Service Fee – This is a daily fee they charge the facility can charge for additional and extra services. You will need to ask the aged care home if they charge this fee and how much it is.
Accommodation Costs
- You will pay a contribution towards your accommodation costs as the government will supplement part of this cost. Your daily contribution amount could be anywhere between $1 per day up to $69.49 per day. There is an option to pay a lump sum of this amount which could be from $4,355.60 up to $302,671.24.
- If you pay the daily amount this is known as a DAC (Daily Accommodation Contribution) or if you pay a lump sum this is known as a RAC (Refundable Accommodation Contribution).
As a partially supported resident you need to make sure you have a cashflow surplus or limit the cashflow shortfall. Whether you sell the home, rent the home, borrow some money, all these options may affect the pension (too much or too little in the bank) and Income tax (earning interest on money left in the bank/investments).
If you are close to the asset thresholds mentioned previously and you haven’t updated Centrelink, you could potentially be paying more than you need.
To find out for certain if you or a loved one will be considered a Partially Resident, or find out how much of a contribution you should pay, Call Balance on 1300 556 287 or complete our Contact Form.