You can be asked to pay the following fees in residential care:
> A basic daily care fee: This covers living costs such as meals, power and laundry. For some people this is the only fee they are required to pay. For anyone on a full age pension, 85% of the pension will go towards the basic daily fee and nothing else is payable. Everyone else faces an assets and income test. Once in Aged Care your daily fees are reviewed quarterly (January, March, July and September).
> A means-tested daily care fee: This is an additional contribution towards the cost of care that some people may be required to pay. The Department of Human Services (Centrelink) will work out if you are required to pay this fee based on an assessment of your income and assets and will advise you of the amount. Once in Aged Care your daily fees are reviewed quarterly (January, March, July and September).
The means-tested care fee is based on a formula, being the sum of the income tested fee component and the asset tested fee component, less the maximum accommodation supplement.
There is an indexed Government prescribed annual and lifetime cap on the amount of means-tested care fee that must be paid.
>An accommodation payment: This is for your accommodation in the home. Some people will have their accommodation costs met in full or part by the Australian Government, while others will need to pay the accommodation price agreed with the aged care home. The Department of Human Services (Centrelink) will advise you which applies to you based on an assessment of your income and assets.
RAD (Refundable Accommodation Deposit): this is a lump-sum payment if you are asked to pay all of your accommodation costs.
RAC (Refundable Accommodation Contribution): this is a lump-sum style payment if you are asked to pay some of your accommodation costs
DAP (Daily Accommodation Payment): this is a rental – type payment if you are asked to pay all of your accommodation costs
DAC (Daily Accommodation Contribution): this is a rental-type payment if you are asked to pay some of your accommodation costs
To calculate the equivalent DAP of an RAD, the RAD is multiplied by the maximum permissible interest rate (MPIR) as prescribed by the Government from time to time
You have 4 weeks from the time of entering the aged care facility to decide whether to pay for your accommodation by an RAD, a DAP or a combination of both.
> Fees for extra or additional optional services: Additional fees may apply if you choose higher standards of accommodation or additional services. These vary from home to home. Your aged care provider can provide you with details of these services and the fees that apply.
You can use the Residential Care Fee Estimator to get an estimate of your basic daily fee, means-tested care fee and the amount or type of accommodation payment you may be asked to pay. The Residential Care Fee Estimator does not provide an estimate of fees for extra or additional optional services.
Refer to the link below