During the first appointment
If there is a need for subsequent appointments, we can help you:
Call us to book an appointment on (02)8814 7307 with one of our specialist Aged Care Financial Planners.
You may be pleasantly surprised how we can improve your situation too.
There comes a time in most people's lives that we need to look into some aged care options for our parents. Whether you find your parents health deteriorating or perhaps they can't care for themselves at home any longer. It's always a difficult time for the parent who needs to go into aged care. In NSW there are many wonderful retirement homes, hostels and nursing homes. The staff that work in the aged care industry are truly amazing people. They work hard to provide care to our loved ones and give them meaning towards the end of their lives whilst in aged care. Sydney has many hundreds of aged care facilities.
If you are searching for aged care online you will see many great facilities. Click here for a list to help you get started.
However, it is the question of finances that gets people the most anxious and confused. It is the adult children who usually have to make difficult decisions about how and where to place their loved one into aged care. In Australia we have a healthy but complex system of providing for people in their retirement. We need to be able to navigate three systems in order to understand how our parents' finances will work...
There have been many aged care changes over the years, with one of the major changes occurring to aged care 1st July 2014.
Aged Care changes came into effect on July 1st 2014. If you are looking for Aged Care in Sydney or Canberra you will need help to understand these changes. A new means test in residential care to determine a person’s fair contribution to their care and accommodation is just one of the changes that has taken effect.
While the changes are designed to give senior Australians more choice, more control, and more of the services they might need to stay in their own home for longer, according to Eric Hiam, there is no doubt Aussies will be paying more for aged care. NSW residents already pay the most for property, they may also need to pay the most of aged care accommodation.
The major changes to the system revolve around the residents assets which are now being included in Centrelink's assessment. From July 1, 2014:
3 levels of Government Support
Fully Supported Resident - If you have assets of less than $46,500 and an income of less than $25,711 you won’t have an accommodation payment at all.
Partially Supported Resident- If your assets are $159,423 and income is less than $65,353 you will have a reduced accommodation payment but the facility doesn’t have to take you.
Unsupported Resident- If your assets are above $159,423 and income greater than $65,343 you will have to pay the full accommodation payment and some of this payment may go towards helping others.
You don't need to navigate this alone!
Call us to book an appointment on (02)8814 7307 with one of our specialist Aged Care Financial Planners or Contact Us here.