Careful planning ahead of time can make all the difference and remove a lot of the stress at the time when a decision needs to be made.
What does care cost? The cost to care for someone to receive aged care in a residential home, can be as high as $245.62 per day (around $89,651 per year).
Fortunately, most of this amount are subsidised by the government. What are the range of fees? The range of fees and calculation methods may appear complex but fees can be divided into four categories, as per diagram below:
Basic daily care fee
Additional services fees
The important things to know about the current rules are:
Things to considerAt Futura Financial Group, we specialise in aged care advice. We can provided you with aged care financial advice that will help with cash flow and minimise aged care costs. Our advisers will also help you and your family see the bigger picture in addition to the financial aspects.
Your options will depend on your family situation and your health requirements. However, if your finances are carefully planned, you will have more options and greater control where and how you live and receive care.
If you would like further information on aspects of aged care or find out on how financial planning can help, contact us to make an appointment today.
Blog Author: Ricardo Bernal
Disclaimer: Information on this site may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information. Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product. Rates current to 19 March 2018.
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