Fees & Charges

FEES AND CHARGES

The Fees and Charges are determined by the Department of Social Services based on your ability to pay and individual circumstances at time of admission. Your admission options at Guildford Village can vary greatly based on your individual circumstances.

We recommend speaking to your Financial Adviser as we can only provide basic information. You will find further information about the aged care fees and charges on the Government’s “My Aged Care” website.

DAILY CARE FEES

All residents in aged care, including people seeking respite care are required to pay a basic daily care fee as a contribution towards care and living expenses. The daily fee for all residents equates to 85% of the basic single age pension.

REFUNDABLE ACCOMMODATION DEPOSIT (RAD)

This is a lump sum payment for accommodation in an aged care home and is fully refundable when you leave the residence. This is the price of a room, in lump sum form, that residents have agreed to pay with the provider. Residents can pay the RAD in full or they can pay via a combination of a smaller RAD and a Daily Accommodation Payment (DAP). Our maximum room price is $550,000. Further details can be found on government’s “My Aged Care” website.

DAILY ACCOMMODATION PAYMENT (DAP)

The DAP is calculated as a daily cost that is charged fortnightly or monthly if the RAD has not been paid in full. The DAP is calculated as a percentage of the remaining RAD. For example, if the RAD on a room is $550,000 and no RAD is paid, then the resident will pay $76.40 as a DAP (based on the current 5.70% interest rate). Please note, in most circumstances, a percentage of the RAD is required as a deposit on the date of entry.

COMBINATION OF RAD AND DAP

The resident can elect to pay a combination of a RAD and a DAP. For example, on a room with a RAD of $550,000, the resident can pay $300,000 upfront and the remaining $250,000 as a DAP. In this scenario the DAP would be $34.73 per day.

MEANS TESTED CARE FEE (INCOME TESTED FEE)

Residents (other than respite residents) may be asked to pay a care co-contribution fee depending on their income and their assets. The Government sets the amount a resident must pay direct to the aged care provider and reduces the care subsidies paid to the provider by the same amount.

RAD REFUNDS

Upon leaving the residence, the refundable deposit will be refunded in full, as long as it was not agreed for any amounts to be deducted from the refundable deposit in which case it would be the balance that would be refunded. Amounts that can be deducted against the refundable deposit are the care co-contribution, the DAP, and additional benefits. In these cases, interest at 3.75% will be charged on the monthly balance of the amount deducted.

ADDITIONAL BENEFITS

Where the resident requests or agrees to additional services being provided (such as newspapers, alcoholic drinks, additional outings etc.), these can be charged to their monthly account.

GOVERNMENT CONTRIBUTION

The Government provides care subsidies to ensure all residents receive the same standard of care in the residence.

RESIDENT AGREEMENT

A Resident Agreement protects both parties by formalising arrangements upon admission. As the Government determines fees after admission, the Resident Agreement refers to the maximum amount that could be charged for the various fees and charges.

MONTHLY STATEMENTS

Regular statements

Statements are issued early in each month and relate to the full month.

Direct debit transfer

Direct Debit is the preferred method of payment given it is processed fortnightly or monthly from the account into which any pension is paid.

Other payment methods

We accept Bank Transfer and Cheque payments. We are not able to provide Credit Card or BPAY payment facilities.