We understand that learning about how aged care fees and charges work can be a little confusing if you’re attempting to do it yourself and haven’t spoken to a professional yet. The information on this page will outline the basics of what you need to know about this, explain what the options are at CraigCare and address the most common questions we’re asked. Please select the option below that is most relevant to you to learn more.
At CraigCare, you can choose how you pay for your accommodation.
It can be paid by a Refundable Accommodation Deposit (RAD) or a Daily Accommodation Payment (DAP).
You are also able to pay a combination of both.
Our team will work with you to determine which payment method works best for your situation.
If you would like to speak to someone directly, whether it be because you have a question regarding fees or care, if you would like assistance with your aged care application or if you would like to book a tour at one of our homes, we’re here to help. Please contact our friendly Admissions team by calling 0468 718 856 or click here to submit an online enquiry.
For peace of mind, it is critical you understand aged care costs and any fees or charges you may incur along the way. It’s also important to understand that the overall amount you pay for both care and accommodation depends upon your individual financial situation.
Services Australia is the organisation that determines your financial situation. Services Australia conducts a Combined Income and Assets Assessment which is a form you need to complete and submit to the government.
We also recommend you seek independent financial advice for aged care costs. This will help you access any government assistance you may be entitled to and advise you on the likely costs of the care required. If you don’t have a financial advisor, you can contact DHS for a referral that’s located nearest to you.
All residents must pay the Basic Daily Care Fee. It covers your day-to-day living costs in residential aged care such as meals, cleaning and laundry, heating and cooling. This fee is set by the Federal Government and is the same across every aged care provider in Australia.
The Basic Daily Care Fee is set at 85% of the single person rate of the basic age pension. It increases when the aged pension increases and is adjusted every May and September. Please check www.myagedcare.gov.au/aged-care-home-costs-and-fees/ for the most current fee.
The Australian Government’s Department of Health will evaluate your income and assets to determine how much you will have to pay to cover the cost of accommodation in your residential aged care home. Depending on your financial situation you will:
There are four options in which you can pay you accommodation:
This fee is used to supplement the cost of your overall care
The Means Tested Care Fee is an extra contribution some residents will pay depending on their financial situation. Not everyone will have to pay this fee and this will be determined the Australian Government based on an assessment of your personal financial situation.
Your income and assets will be taken into consideration when determining whether you are required to pay this fee. If you have a high income and wealth, you will have to pay this fee.
Once Services Australia have assessed your financial situation, an outcome letter will be forwarded to the home advising of the additional amount to be paid. There is an annual and lifetime cap on this fee.
Across some of our homes, CraigCare offers a variety of additional services to support and enhance our residents’ lifestyle, well-being and experience. Please contact us to find out more about the Additional Services available at some of our homes.
We are ready and waiting to help you, Monday to Friday. You can contact us by reaching out to our friendly Admissions team by either calling 0468 718 856, submitting an online enquiry or by requesting a callback. If you call after hours, you can leave a message, and we will get back to you the next business day.
Please click on the home you’re interested in to learn more about it’s aged care fees & charges.
A close-knit community that fills the home with laughter and friendship. Learn more about our options for Aged Care in Berwick by clicking below.
Centrally located and easy access to Puckle Street shops and much more. Learn more about our options for Aged Care in Moonee Ponds by clicking below.
Single level building which feels more like a home than residential aged care. Learn more about our options for Aged Care in Mornington by clicking below.
Built with a focus on personal space & multiple outdoor spaces with beautiful gardens. Learn more about our options for Aged Care in Pascoe Vale options by clicking below.
With our neighbour being Clarke Reserve, there’s plenty of walking tracks & park time to enjoy. Learn more about our options for Aged Care in Glenroy by clicking below.
A sense of luxury and opulence with a warm, home-like feel. Learn more about our options for Aged Care in Ascot Waters by clicking below.
We’re a connected home with a strong sense of comrade and friendship. Learn more about our options for Aged Care in Maylands by clicking below.
Albany is an intimate home with a focus on connection to land and farm life. Learn more about our Albany Aged Care options by clicking below.
We are ready and waiting to help you, Monday to Friday. You can contact us by reaching out to our friendly Admissions team by either calling 0468 718 856, submitting an online enquiry or by requesting a callback. If you call after hours, you can leave a message, and we will get back to you the next business day.
If you have another question that isn’t on this list, please submit it through the enquiry form on this website, and we will get back to you as soon as we can. Our team is happy to help.
There are a number of costs associated with residential aged care homes. How much and the type of costs you will have to pay depends upon the home you choose and an assessment of your income and assets (means assessment). The different types of residential aged care home costs are:
Some aged care fees are negotiable while others are not. The Refundable Accommodation Deposit (RAD) and Extra Services Fees may be negotiated with aged care homes. The Basic Daily Care Fee and the Means Tested Care Fee are non-negotiable as the fees are established by the Commonwealth Department of Health.
Many people keep receiving the same amount of pension after they move into a residential aged care home unless they have a significant change in circumstances.
Your pension will contribute to your costs associated with paying the required Basic Daily Care fee which everyone is required to pay across all aged care providers. This fee helps pay for your daily services such as meals, cleaning, home management and laundry. The Daily Care fee is set at 85% of the single person rate of the basic aged pension. The government updates it on 20 March and 20 September each year in line with increases to the aged pension.
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The most common aged care myth is that you must sell your home to pay for a Refundable Accommodation Deposit (RAD) when moving into residential aged care. You have the option of paying either a lump sum RAD upfront, a daily payment or a combination of both. Any amount you do not pay as a lump sum incurs interest at a rate set by the federal government. This is the Daily Accommodation Payment (DAP). It is like an interest-only loan or similar to a rent payment.
No. You should use the Income and Means Assessment Tool to find out if this is a requirement depending on your circumstances. You can access this tool at www.myagedcare.gov.au.
Yes. If you find out that you do need to pay a means-tested fee, there is a cap on what you can be asked to pay – both over a year and over your time in aged care. Once these caps are reached, you cannot be asked to pay any more means-tested care fees. The maximum means-tested care fee that a resident can be asked to pay per year is currently $30,574.55 with a lifetime limit of $73,378.49.
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If you are part of a couple, half of your combined income and assets will be included in your means assessment. This happens regardless of who earns the income or whose name the asset is held in.
Yes, if you have gifted assets over $10,000 in a single year or $30,000 in total over a rolling period of five years, these amounts will be included in your assessment.
If you have a spouse, partner or dependent child still living in the family home at the time of the assessment or at the time you enter into care; a close family member has lived in the family home for at least 5 years and is eligible for an income support payment (e.g. government pension or allowance); or a carer has lived in the family home for at least 2 years and is eligible for an income support payment (e.g. government pension or allowance). For more information, contact Department of Human Services on 1800 227 475.
We’re here to help and support you in any way we can. If you want to speak to an aged care expert, please contact our friendly Admissions team by calling 0468 718 856 or click here to submit an online enquiry.
CraigCare has been one of Australia’s most established and trusted aged care providers for over 40 years. We pride ourselves on making sure our residents feel right at home and continue to be connected to the broader local community, as they have always been.
CraigCare acknowledges the people of the many traditional countries and language groups of Victoria and Western Australia. It acknowledges the wisdom of Elders past and present and pays respect to all Aboriginal and Torres Strait Islander communities of today.
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