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When you move into an aged care home, you will negotiate an agreement that will set out the fees and charges you will be asked to pay. You may be asked to pay one or more of the following in residential care.

There are annual and lifetime caps in place to limit the amount of the means-tested care fee you will need to pay. You can call My Aged Care on 1800 200 422 to help you estimate the fees and charges you may have to pay towards your residential aged care. Before you call you should have your financial information ready, especially details of your various forms of income and assets. The My Aged Care website also has a fee estimator that you can use to estimate your fees.

Payment options

As of 1st July 2014, each Aged Care Facility in Australia is required to set the price of the rooms in their own facility, categorised by the size and features of each type of room that they offer. Each room type has a different Maximum Accommodation Payment value.

The Department advises what the maximum charge can be for an Accommodation Payment, based on an individual’s Income and Asset Assessment. More information about these costs and assessments can be found here. Within 28 days of entering the facility, each new resident will be given the choice of how they would like to pay for the Accommodation Payment. There are three options to choose from:

An estimate of these costs can be determined by contacting My Aged Care on 1800 200 422.

Need some assistance understanding the costs of residential care? Contact us today.

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