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  • The new Aged Care Bill 2024: what you need to know

    • The new Aged Care Bill 2024: what you need to know

    Minister for Aged Care Anika Wells (left) and Prime Minister Anthony Albanese announce the Government’s aged care reforms package on 12 September 2024. Credit: Anika Wells’ Facebook

    Last month, Federal Parliament passed the Aged Care 2024 Bill, ushering in new legislation that will change the way care services are delivered in this country – so what will it mean if you or a family member needs aged care? And will you need to pay more?  

    The new Bill replaces the previous Aged Care Act which was introduced in 1997 – almost 30 years ago.

    The legislation is designed to improve the financial sustainability of Australia’s aged care sector, which has experienced ongoing financial losses for in recent years.

    Will I need to pay more for aged care services?

    Under the new Act, the Federal Government will continue to pay for all clinical care needs for older Australians receiving residential aged care and home care as they do now.

    However, older Australians deemed to have the financial means to pay will be asked to contribute more to the cost of their aged care services for accommodation and daily living expenses, which they would normally pay for in their own home.

    When will these changes start?

    In residential aged care, the changes are grandfathered until 1 July next year with existing residents to keep their current financial arrangements.

    This means that current aged care residents will be no worse off under the new Act.

    For new residents entering residential aged care after 1 July, the cost of an aged care bed will likely increase.

    Residents on an Age Pension who are deemed by the Government to be eligible for financial support will not need to pay more.

    But new residents with financial means will be expected to contribute to the cost of their accommodation and daily living expenses.

    What about home care?

    In home care, the introduction of increased financial contributions for care recipients is grandfathered to any existing home care recipients; on the wait list or assessed as being eligible for a Package as of 12 September 2024, when the reforms were announced.

    So, if you were already in the system, you won’t be asked to contribute more.

    New home care recipients will be subject to the new financial arrangements with further detail on how much people will need to pay for aged care services expected to be released by the Government in 2025.

    What is the message then?

    As always, the key is being prepared.

    Have a conversation with family and friends now about your wishes as you age – and look at the options now before you or a loved one may need help.

    AgedCare101 is a great resource to start your ageing journey.

    We will have more information on how the funding changes will impact you and your family in the New Year.

    This content is for informational purposes only and does not constitute financial advice; please consult with a qualified financial advisor before making any investment decisions.

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    A special thanks to our contributors

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    Caroline Egan

    DCM Media, agedcare101

    Caroline has a wealth of experience writing within the retirement and aged care sector and is a contributing journalist for the Villages.com.au and agedcare101 blog and accompanying newsletters.

    Read Profile
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    Ian Horswill

    Journalist

    Ian is a journalist, writer and sub-editor for the aged care sector, working at The DCM Group. He writes for The Weekly Source, agedcare101, villages.com.au and the DCM Institute fortnightly newsletter Friday. Ian is in daily contact with CEOs of retirement living, land lease and the aged care operations and makes a new contact every week. He investigates media releases, LinkedIn and Facebook for a good source for ideas for stories.

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    Lauren Broomham

    Retirement and Aged Care Journalist

    Lauren is a journalist for villages.com.au, agedcare101 and The Donaldson Sisters. Growing up in a big family in small town communities, she has always had a love for the written word, joining her local library at the age of six months. With over eight years' experience in writing and editing, she is a keen follower of news and current affairs with a nose for a good story.

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    Jill Donaldson

    Physiotherapist

    Jill has been practicing as a clinical physiotherapist for 30 years. For the last 13 years she has worked solely in the Aged Care sector in more than 50 metropolitan and regional facilities. Jill has also toured care facilities in the US and Africa and is a passionate advocate for both the residents in aged care and the staff who care for them. She researches and writes for DCM Media.

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    Icons
    Chris Baynes

    DCM Media, agedcare101

    Chris has been a journalist and publisher in the retirement village and aged care sectors for 11 years. He has visited over 250 retirement villages and 50 aged care facilities both within Australia and internationally. Chris is a regular speaker at industry conferences plus is a frequent radio commentator.

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    Annie Donaldson

    Nurse and Carer

    Annie has a long career in both nursing and the media. She has planned and co-ordinated the medical support from both international TV productions and major stadium events. In recent years she has been a primary family carer plus involved in structured carer support.

    Read Profile
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    Caroline Egan

    DCM Media, agedcare101

    Caroline has a wealth of experience writing within the retirement and aged care sector and is a contributing journalist for the Villages.com.au and agedcare101 blog and accompanying newsletters.

    Read Profile
    Icons
    Ian Horswill

    Journalist

    Ian is a journalist, writer and sub-editor for the aged care sector, working at The DCM Group. He writes for The Weekly Source, agedcare101, villages.com.au and the DCM Institute fortnightly newsletter Friday. Ian is in daily contact with CEOs of retirement living, land lease and the aged care operations and makes a new contact every week. He investigates media releases, LinkedIn and Facebook for a good source for ideas for stories.

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    Lauren Broomham

    Retirement and Aged Care Journalist

    Lauren is a journalist for villages.com.au, agedcare101 and The Donaldson Sisters. Growing up in a big family in small town communities, she has always had a love for the written word, joining her local library at the age of six months. With over eight years' experience in writing and editing, she is a keen follower of news and current affairs with a nose for a good story.

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    Jill Donaldson

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    Chris Baynes

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    Annie Donaldson

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