Yea District Memorial Hospital

Residential Aged Care Fees & Charges


Fees and Charges at Rosebank Nursing Home & Hostel (prior 1st July 2014)

All fees and charges are legislated by the Aged Care Act 1997 and all residential aged care facilities are required to comply with this. Below is a brief explanation of these fees.

1. Basic Daily Care Fee

It is set at 85% of the full pension rate and all residents are asked to pay this fee. Depending on your financial situation some or all of this fee may be subsidised by the Government.

2. Income Tested Fee

All residents (except those on respite stays) may be asked to pay this fee. This is dependant on your income and no resident will be asked to pay more than they can afford (this is determined by the Assets Assessments).

3. Accommodation Payment

(i) Accommodation Bond

Residents assessed as requiring low level care may be asked to pay a bond. This is determined by an assets assessment, and the Aged Care Act requires that when a bond amount is set the resident is left with a minimum asset amount (this is currently $45,000.00, but changes every 6 months).

Accommodation bonds are protected by legislation, with set conditions on how they are used and invested. The interest earned is retained by the facility.

Accommodation bonds are returned, less the retention amount, when the resident ceases to reside at the facility.

(ii) Accommodation Charge

Residents assessed as requiring high level care may be asked to pay an accommodation charge. This amount is determined by an Assets Assessment and the Department of Human Services advise what daily accommodation charge is payable.

You may want to consult with a financial adviser about your finances. There are also various government services and resources that can help you obtain appropriate financial advice. The My Aged Care Website at www.myagedcare.gov.au has information that may be helpful.

Fees and Charges at Rosebank Nursing Home & Hostel (effective 1st July 2014)

All fees and charges are legislated by the Aged Care Act 1997 and all residential aged care facilities are required to comply with this. Below is a brief explanation of these fees.

1. Basic Daily Care Fee

This fee is charged to assist towards accommodation costs provided by the facility, including meals, cleaning, heating and cooling.

It is set at 85% of the full pension rate and all residents are asked to pay this fee. Depending on your financial situation some or all of this fee may be subsidised by the Government.

2. Means Tested Care Fee

This is an additional contribution that a resident may be asked to pay. This is determined by the Department of Human Services and is based on an assessment of your income and assets.

3. Accommodation Contribution

This is for your accommodation in the hostel or nursing home. Some residents will have their accommodation costs met in full or part by the Australian Government. The Department of Human Services will advise if this applies to you.

The resident can choose to pay the Accommodation Contribution by:

(i) Refundable Accommodation Deposit (RAD) paid as a lump sum or

(ii) Daily Accommodation Payment (DAP) or

(iii) A combination of a RAD and DAP

A resident paying the Accommodation Contribution must be left with a minimum asset amount (this is currently set at $45,000 but changes every 6 months)

The Maximum Accommodation Payment per room at Rosebank Hostel and Rosebank Nursing Home is:

(i) RAD - $450,000.00 (lump sum) or

(ii) DAP - $78.41 (daily payment)

(iii) An example of a combination RAD and DAP for $450,000.00 is

RAD of 50% $225,000.00 (lump sum) and

DAP of 50% $39.21 (daily payment).

You may want to consult with a financial adviser about your finances. There are also various government services and resources that can help you obtain appropriate financial advice. The My Aged Care Website at www.myagedcare.gov.au has information that may be helpful.