Two-thirds of Aussies expect aged care to cost $400 per week or less – and we want the Government to foot the bill

 

Then there is the service fee if you want additional services such as alcohol, cable in your room, special therapies such as massage, a wider choice of meals, and facilities likes gyms, pools and cinemas – and this is not always an optional fee. 

We calculate the conservative average you’d pay for a Sydney aged care home – based on a daily fee of $50.16, a Daily Accommodation Payment (DAP) of $106 per day (or RAD of $650,000 converted to a DAP), means-tested fee of $50 and a service of $40 – is $1,727.85 a week. 

Fee increases on the cards 

It’s also likely that these charges will increase in the future. Last year David Tune recommended a range of measures to the Federal Government including increasing the cap on the basic daily fee, to $100 a day (those with less means would still be capped). 

Most have yet to be followed up on, but with Health Minister Greg Hunt pledging last week to increase funding to the sector, they are on the cards. 

None of us like talking about our care needs as we age – but it’s a conversation we need to have, as this latest research highlights. 

Only nine per cent of respondents had a financial or savings plan for their future care, while just three per cent had sought financial advice. 

With more of us living longer and relying on in-home and aged care, it is worth being prepared – and educating yourself about the potential costs involved. 

You can find out more about your care options at agedcare101.

https://www.agedcare101.com.au/contributors/annie-donaldson

https://www.agedcare101.com.au/contributors/jill-donaldson-care

 

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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.

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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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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.