Financial Guide

This fee is used for your day-to-day living cost such as meals, cleaning, laundry and electricity. Everyone is required to pay this fee when moving into Aged Care Homes. This Basic Daily Fee is 85% of the single aged pension and is increased twice a year in March and September by the Department. In some cases, this may be the only fee you are required to pay.

This cost will contribute to the accommodation in Residential Care. Some people will have their Accommodation Payment covered in full or partially by the Government, while others will be required to pay the agreed amount in the key feature statement issued by BaptistCare.

If you are required to pay an Accommodation Payment, there are 3 different ways you can contribute.

1. Lump-sum ‘Refundable Accommodation Deposit’ (RAD) – this is a lump-sum payment which will be refunded in full when you leave the centre (less any fees owing).

2. Daily Accommodation Payment (DAP) - is like a rental style daily payment. The DAP is calculated by the interest on the unpaid RAD amount. Just like rent, there will be no refund when you leave the facility. When you enter care you may be asked to pay the DAP amount until you decide which option to pay the Accommodation Payment.

3. Combination of both a Lump-sum ‘Refundable Accommodation Deposit’ (RAD) and Daily Accommodation Payment (DAP) – this accommodation option allows you to pay a partial lump-sum amount which will reduce the Daily Accommodation Payment. You can also select to draw down the daily payment from the lump sum.

All residents have up-to 28 days after date of entry to decide how they would like to pay their Accommodation Payment.

Residents may be required to pay towards their care through a Means Tested Fee. This amount is calculated by the Department of Human Services which has an annual and lifetime cap and is done through the government’s income and asset assessment process.

This fee will be applied from date of entry and you will be advised the amount by the Department.

The Department also conducts quarterly reviews and may adjust your Means Tested Fee if your circumstances have changed during the last quarter.

If you are receiving a means tested payment from Centrelink or the Department of Veterans’ Affairs (DVA) and do not own your home or retirement living unit, the Department of Human Services will automatically complete an assessment for you when you enter a Residential Aged Care Home.

If you receive a means tested payment from Centrelink or the Department of Veterans' Affairs (DVA) and you own your home or retirement living unit, you will need to complete the Residential Aged Care Property for Centrelink and DVA customer’s form (SA485). This form can be accessed on myagedcare.gov.au.

If you do not wish to provide your income and asset details or you are not receiving a means tested payment, you will need to complete the Calculation of Cost of Care Form (SA457). You will pay the maximum Means Tested Fee until you reach the annual or lifetime cap.

If you require these forms, please speak to the Sales and Admission Team for more information.

All fees and charges are direct debited from your nominated bank account fortnightly in advance. The exception to this is your Daily Accommodation Payment (DAP), which is direct debited monthly in advance. All Refundable Accommodation Deposits (RAD) can be paid by cheque, funds transfer, or upon request by direct debit. Please ensure that all cheques are payable to ‘BaptistCare NSW & ACT’. Any payment or billing queries can be directed to the Sales and Admission Team.

If you believe you are in a position of financial hardship, you can apply for Financial Hardship Assistance. Contact the Department of Human Services who will determine under Section 52K-1 of the Aged Care Act 1997, if your Residential Aged Care Fees can be supplemented by the Government. Information on Financial Hardship can be found by calling the My Aged Care Hotline on 132 300.