What fees might I have to pay for residential aged care?
Accommodation and Care costs at Prom Country Aged Care
Accommodation Costs
All aged care providers charge accommodation fees to help cover the costs of maintaining the facility and providing its amenities. The accommodation price is set individually by each residential aged care home.
Several factors, such as the available facilities and property values, influence these costs. It’s important to complete the Income and Means Assessment before entering care, as it will determine whether the Australian Government will subsidize the fee or cover the full cost of your accommodation based on your income and assets.
There are three ways you can pay for your accommodation:
Option 1- Refundable Accommodation Deposit (RAD) This option is a lump sum accommodation payment. The full amount of the deposit is refunded when you leave Prom Country Aged Care less any amounts you have agreed to deduct.
Option 2- Daily Accommodation Payment (DAP) Instead of paying for your accommodation as a lump sum, you can choose to pay a daily fee. The amount you pay is calculated based on the MPIR (maximum permissible interest rate, set by the Australian Government) currently on the day you move into permanent care.
Option 3- Combination Payment Part refundable accommodation deposit (RAD) and part daily accommodation payment (DAP), with the part RAD being refunded when you leave Prom Country Aged Care.
Currently, the permanent room costs at Prom Country Aged Care are:
Standard Rooms with Ensuite:
Maximum Refundable Accommodation Deposit (RAD): $550,000
Maximum Daily Accommodation Payment (DAP): $126.88
Combination Payment (RAD 50% and 50% DAP): RAD $275,000 DAP $63.44
Suites:
Maximum Refundable Accommodation Deposit (RAD): $750,000
Maximum Daily Accommodation Payment (DAP): $173.01
Combination Payment ( 50% RAD and 50% DAP): RAD $375,000 DAP $86.51
Effective Maximum Permissible Interest Rate (MPIR)- 8.42% (effective as at 1 January 2025)
NOTE: These prices are the MAXIMUM amount payable with the actual amounts paid varying depending on individual residents’ circumstances.
If you are not ready to enter permanent care, you can request to be placed on the waitlist.
Basic daily fee:
All residents pay this fee for day-to-day care. This is set by the Australian Government at 85% of the pension and is adjusted twice yearly in line with the pension. Currently, the Basic Daily Fee is $61.86 per day.
Further fees for permanent admissions may also apply.
My Aged Care has a fee estimator that will help you estimate the likely cost of care- visit https://www.myagedcare.gov.au/how-much-will-i-pay
Means-tested care fee:
After submitting your Income and Means Assessment through Centrelink, you will be evaluated not only for potential subsidies but also to determine if the means-tested care fee applies to you. If you are required to pay the income-tested care fee, it means the government has decided you should contribute more towards your daily care costs, but only if your financial situation allows for it. Whether or not this fee applies depends on your income and asset levels. The means-tested care fee can range from $0 to $259.26 per day
Services included at no extra cost
Prom Country Aged Care offers a wide range of additional care and services to its residents at no additional cost. This includes a full restaurant meal service including room service if required; a craft and workshop program; a full
program of leisure and lifestyle activities including weekly happy hour cocktails; and participation in a weekly Relaxation, Slee,p and Pain Therapy Program.
Additional ‘user pays’ services
Prom Country Aged Care provides a telephone for each resident however the resident is required to pay for the cost of their phone calls. No line rental is payable. A range of other services are available for residents on a user pays basis. These include daily newspapers, a hairdresser, and a massage therapist. Further details are outlined in our Resident Handbook.