Fees and Charges
The major fees associated with moving into St Luke’s Green aged care home are as follows:
Accommodation payments – consists of Refundable Accommodation Deposit (RAD), or Daily Accommodation Payment (DAP), or combination of both
Basic Daily Care Fee - $49.42
Extra Service Fee - $27.02
Means Tested Care Fee – up to $26,566.54 annual cap and a lifetime cap of $63,759.75
The accommodation payment at St Luke's Green can be made in a number of ways:
|Refundable Accommodation Deposit (RAD)||An upfront lump sum payment, which is refundable upon your departure|
|Daily Accommodation Payment (DAP)||A monthly rental style payment. The monthly rental payment is calculated on the RAD, using an interest rate set by the Government (currently 5.73%) and paid monthly in advance|
|Combination of both payments above||A combination of both payments, where you choose to pay a partial RAD amount and the balance as a DAP|
Suite prices vary depending on the floor, location, type and size of suite. The accommodation payment is approved by the Australian Government Aged Care Pricing Commissioner. At St Luke’s Green the maximum price for each of our suites has been approved by the Aged Care Pricing Commissioner, ranging from $500,000 and up to $910,000. The RAD on the selected suite and maximum permissible interest rate (MPIR) is fixed at the date of becoming a permanent resident. This equates to a Daily Accommodation Payment (DAP) of between $78.49 day and $142.86 per day.
Basic daily care fee.
The basic daily care fee is determined by the Department of Social Services at roughly 85% of the aged pension and is currently $49.42 per day. This is paid monthly in advance. This fee is indexed half yearly in line with the age pension. It is paid by all people who reside permanently in residential aged care.
Extra service fee.
The extra service fee is approved by Government for each home that has an extra service status. The fee takes into account the quality of accommodation and services provided. The current extra service fee for St Luke’s Green is $27.02 per day. Government approval is sought annually for changes to this fee. It is likely to increase by $3-4 per day. This fee is payable monthly in advance by all respite and permanent residents.
Means tested care fee.
The means tested care fee was introduced by the government from the 1st July 2014. It is a contribution to the cost of your care once you are a permanent resident in a residential aged care home. This fee is determined by your assessable income and assets and is calculated by the Department of Human Services.
Required Accommodation Payment of $600,000.00
|RAD only||50% RAD/DAP||DAP only|
|Basic Daily Care Fee||$49.42||$49.42||$49.42|
|Extra Service Fee||$27.02||$27.02||$27.02|
**Total Daily Fee
*5.73% as at 1st July 2017
**In addition Means tested care fee may apply