Can you access 'Supported Care'? Formally known as 'Concessional Care'.
Primarily, 'supported care' means that you receive a discount on the accommodation costs as part of the accommodation contribution. To be eligible you must complete the income and assets assessment booklet which most facilities and hospitals or Centrelink will give you. Beware though there are up to over 25 pages of questions you may need to answer, PrimeCare can assist with your Centrelink and DVA requirements. If your assets fall below the first asset threshold you could be eligible for support from the government as part of a co-contribution or you may qualify for full support if your assets fall below the asset free threshold.
For a single person, the first asset threshold amount of the home is included as an asset, unless the home is a protected asset. The home is a protected asset under the following criteria:
- the other remaining spouse must live in the home
- a carer who is eligible for an income support payment and has been living in the home for at least two years
- a close relative who is eligible for an income support payment and has been living in the home for at least 5 years
Be careful, not all facilities have licenses for fully supported occupants. Finding a vacancy in an aged care facility for someone who is “fully supported” can be difficult, particularly for the inner suburbs of the main cities. You may want your loved one to be near you and this may not be an option.
Placing couples into age care is financially complex. There is an array of scenarios, what appears to be the cheapest from the outset may not in the long run be the best option.
If your parents own their own home and they enter aged care one day apart, the first one going into care may be eligible for supported care. However, this may be prohibitive as you may not be able to go to the facility of your preferred choice. Also, when the second parent enters care, the daily accommodation fee may also increase, as the home is now assessable and no longer classified as protected. Couples should review their aged care expenses before they go into care to ensure that they can choose the facility of their choice, and understand the potential increase in the DAC (daily accommodation fee) and means tested care fee when the other parent also moves into aged care.
Call PrimeCare Financial Planning to determine your eligibility for supported (concessional) aged care fees on 1300 853 875
