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Home Care Packages can be an option if you need a coordinated approach to the delivery of your help at home. You’re expected to contribute to the cost of your care if you can afford it. Your contribution is made up of three types of fees explained in this article.
A granny Flat Right is a viable consideration for senior Australians when considering their accommodation options when they are either struggling to cope living independently due to health or financial reasons or simply want to be closer to their family.
The Coalition Government has been re-elected in the 2019 Federal Election, with a small majority of seats in the House of Representatives, after taking a policy of stability for superannuation to the election.
In Australia, the government heavily subsidises the cost of residential aged care. However, depending on your financial circumstances, you may still need to pay for care.
In this newsletter, we unpack how the government determines if a person is eligible for additional financial subsidies or not.
Planning ahead can help to demystify aged care and reduce stress levels. With awareness and pre-planning, you can maintain control and choice, have access to the financial resources to pay for care and minimise the stress on you and your family. Using a simple action plan, this article helps you prepare for when you may not be able to look after yourself and need extra supportive care.
Craig Phillips of Phillips Wealth Partners explains by layering an annuity with other retirement income streams, you can achieve the best of both worlds, with enough income certainty to give you peace of mind and a degree of flexibility with your other investments.
According to Craig, a senior financial planner and aged care professional™ for some senior Australians “gifting may seem like a good idea at the time to help out family members, but the implications for the parents as they are entering permanent residential aged care as they are often unable to afford the aged care facility of choice because they were unaware of the high cost involved.”
Most fees in residential aged care are regulated by government, but more and more care providers are charging for additional services – so check what you are paying for.
We’re delighted to announce we have introduced a great new platform to help you manage your entire financial world - at home and on the go.
Luisa Capezio, CEO and aged care navigator at Independent Care Solutions. At Independent Care Solutions Pty Ltd it is our job to help individuals and families navigate the aged care system to find the best solution for loved ones who need support to stay at home or are ready to take the next step into residential aged care. www.icares.com.au
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Irrespective of whether you are a full- or part-pensioner, a self-funded retiree or still working, if you are over the aged pension age (65 years old) it is worth investigating your eligibility to access a level of government subsidisation to support a home care package.