Page 7 - Understanding Aged Care

UNDERSTANDING AGED CARE

Residential Aged Care

So, just as you protected These services provide accommodation
yourself in different ways for elderly people who need substantial
levels of care and are no longer able to live
throughout your lifetime, independently in their homes. To access
you need to make sure you residential aged care you must be assessed
are prepared financially for by an Aged Care Assessment Team (ACAT)
who will determine whether you are eligible for
the costs involved when care. Most aged care services are regulated by
you need aged care. the government and must comply with required
standards.

A minimum requirement of services to be
provided consist of:
Considering a retirement village? • Staff on call to help at all times

Retirement villages are aimed at people • Meals
over age 55 who are looking for a lifestyle
change. They tend to appeal to people who • Assistance with daily living activities
are still mobile and active and want to live including bathing, dressing, eating and
independently but also want the comfort of medication
knowing that additional security, support and
companionship is available. You can generally • Cleaning and laundry services
expect to pay an entry contribution, ongoing
service charges, and exit fees, but the amounts • Social activities
can vary greatly so check contracts carefully. It
may be smart to ask your lawyer to review the • Nursing care & other health services
contracts before you commit.
The cost of care is heavily subsidised by the
The government does not subsidise retirement government but you will be asked to contribute
villages so you will need to budget for the full to the cost of your care based on your assets
amount. However, you can still access the and income. You may be asked to pay
home care services. accommodation payments for your room and
daily fees towards the cost of your care and
Choosing Carefully: living support.

Before deciding to live in a retirement village it
is wise to consider what your needs may be in
the future. If there’s a risk that money may get
tight down the track, you should be aware that
it’s unlikely you will be able to rely on a reverse
mortgage to release any capital tied up in your
village unit. In most retirement villages you
don’t legally own your dwelling and therefore it
can’t be used as collateral for a mortgage.

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