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Accommodation Pricing

Accommodation Pricing – from 1st July 2018

As part of the Government’s new Aged Care reforms.

Thomas Holt are required by legislation to provide the following information however we invite you to contact us for assistance and guidance to explain the new pricing reforms. We want to ensure you understand and are aware of all your options.

Australia’s aged care system is set to change significantly with the introduction of the Government’s new rules for residents entering care on or after 1 July 2014.

Although these changes are driven by the Government and the cost of accommodation and care may change, Thomas Holt is determined to continue to offer exceptional care at the lowest possible price.

As a not-for-profit organisation, our services are about you and your needs.

If you are facing financial difficulty there are options available. Please speak to us about your options.

Below is a summary of the major changes:-

 From 1 July 2014
ACAT AssessmentsThe distinction between high-level and low-level care will be removed. ACAT assessments will simply be to determine if any form of care is needed.
Upfront Accommodation Costs

Accommodation can be paid either as a Refundable Accommodation Deposit (known as a ‘RAD’ or a bond) or a Daily Accommodation Payment (known as a ‘DAP’ or periodic payment) or a combination of both.

Residents will have up to 28 days after entering a facility to decide on their payment method. Accommodation costs will be determined by a resident’s assessable income and assets.

Retention AmountsRetention amounts will not be deducted from refundable accommodation deposits.
Ongoing Care Fees

These include:

  • Basic Daily Fee – payable by all residents.
  • Means Tested Care Fee (A compulsory fee charged by the Government but collected by Thomas Holt) - will be determined by a resident’s assessable income and assets. The maximum daily fee will be removed however yearly and lifetime caps will apply.
Assessment of your home to determine ongoing care feesThe value of your home will be assessed for the purpose of the Means Test Care Fee up to a cap of $165,271.20 unless occupied by a protected person such as your spouse.

Cost Assessment Guide

Accommodation payments can be negotiated below the published price. Accommodation will also be considered for seniors receiving a pension who are unable to pay a refundable accommodation bond.

 Roden CutlerSan Souci GardensJacaranda
100% RAD$650,000 - $750,000$700,000$350,000 - $750,000
100% DAP$106.14 - $122.47$114.30$57.15 - $122.47
Combination Split   
70% RAD$455,000 - $525,000$490,000$245,000 - $525,000
30% DAP$31.84 - $36.74$34.29$17.15 - $36.74

Disclaimer 

The Maximum Permissible Interest Rate is determined by the Department of Social Services and is updated regularly (usually every four months). Thomas Holt will ensure the MPIR rate is current. Interest is 5.96% p.a from 1/07/2018.

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