Paying for care is more affordable than you think
Unlike most organisations, Palm Lake Care does not charge more than the Government mandated fees. This means quality care in luxury surroundings is available regardless of your budget.
Today, the Australian Government subsidises and regulates costs for aged care by setting the maximum daily fees, the maximum accommodation fees and helping calculate what you can be asked to pay. This is to ensure that there are available options for you, irrespective of your financial situation.
The contribution you will need to make is based on a government assessment of your own assets and income, but the good news is that it is a lot more affordable than you think.
To receive Government subsidies, you need an Aged Care Assessment (ACAT) and update Services Australia with asset & income information, refer to ‘Changes to Federal Government Residential Subsidy Forms’. The information on record will determine the applicable fees.
Contact our free, no obligation Care Solutions Service for information tailored to your individual circumstances.
Maximum prices shown may not apply to you
The Government requires every licensed care provider to advertise maximum prices for accommodation, however these may not apply to you. Your Combined Assets and Income Assessment will provide the government the information to be able to categorise your situation as:
The government pays your care and accommodation costs, leaving you to only pay the Basic Daily Care Fee.
You will have to contribute part of the accommodation and or care costs based on your assessment, plus the Basic Daily Care fee.
You are asked to pay for the accommodation costs yourself, and possibly a contribution toward the cost of your care via a Means Tested Care Fee based on your financial situation.
Our Care Solutions Team can help with information tailored to individual circumstances.
We can give you peace of mind in one free phone call.
Fees and payments
Basic Daily Fee
Everybody pays this contribution to day-to-day living such as meals, cleaning and laundry.
- Indexed at 85% of Standard Aged Pension
- Pensions continue to be paid into nominated bank account, and billed monthly
- Also applies for respite stays, payable in advance of admission via credit card or bank transfer.
If you have assessable assets above the current threshold and/or income higher than the standard aged pension you may be required to fund your accommodation in full via a Refundable Accommodation Deposit (RAD) or Contribution (RAC) or a Daily Accommodation Payment or Contribution (DAP or DAC).
Means Tested Care Fee
Some people with assets and or income over a certain threshold may also be asked to contribute toward the cost of their care, with the Government charging a Means Tested Care Fee. This is determined by means testing their assets and income and is billed monthly. Non-pensioners may be charged an Interim Means Tested Fee from date of admission until Department of Human Services update received.
- It is set by the Government and will be the same no matter where you go
- Fluctuates with care needs and quarterly re-assessments. Has annual and life time caps and may commence with any home care payments.
No Additional Daily Fees
Unlike many care providers, we do not have any Extra Service or Additional Service Fees, or Administration or Exit Fees. A fee for laundry labelling, pharmacy account, hairdressing, telephone calls and outings can be arranged on request at resident expense.
Making your aged care options clear.
Call our free service today.
How do you pay?
1. A lump sum Refundable Accommodation Deposit (RAD) or Contribution (RAC)
2. Rental style Daily Accommodation Payment (DAP) or Contribution (DAC)
3. Combination part lump sum and part ongoing payments with a drawdown option
- Government mandated fixed interest applies if accommodation is not paid in full
- Full daily accommodation charges apply until a lump sum is paid or Department of Human Services advice dictating a lesser amount is received
- Lump sums are refunded in full, less any deductions you choose, within 14 days of discharge or receipt of deed of probate.