Benefits to aged care planning

The only topic people don’t like talking about more than death is getting old and becoming incapable of looking after oneself.

With the Australian population of over 70s likely to reach nearly four million in the next 20 years, aged care is an issue that will be of increasing concern to a growing number of people.

It is not just older Australians who need to understand how aged care works – anyone with aging parents might find themselves having to understand a complex system at very short notice.

Many people will make private arrangements for their retirement living.

They might stay in their own homes, perhaps with help from family or other carers.

Some will move into a retirement village and retain their independence.

For others, a time will come when they need a higher level of care.

Government support

The government provides substantial assistance with the costs of aged care, and eligibility for government support is determined by Aged Care Assessment Teams, ACAT.

Aside from making an assessment of the need and level of care required, the ACAT might also be able to as- sist in finding an appropriate place. Most people prefer to make their own choice and it is worthwhile visiting several facilities.

Quite often available places are subject to existing vacancies, so it might be necessary to apply to a few establishments.

Fee structure

In most cases a contribution towards the costs of aged care is required. Contributions vary and depend upon income, assets and pensioner status.

Fees might include a combination of means-tested accommodation and care fees, a basic daily care fee and fees for extra optional services.

Fees are revised twice yearly in line with pension revisions.

Care recipients have the option of paying their accommodation fee as an upfront refundable deposit or a rentstyle periodic payment.

Not all needs are the same

Sometimes the need for aged care can arise at very short notice.

For example, a stroke or a broken hip might be the trigger for an immediate move.

The stress of entering aged care can be considerable and this isn’t helped by the overwhelming range of facilities on offer and the complexity of funding arrangements.

The emotional upheaval on all parties can be eased by early planning and open discussion within families.

A good place to start is the Federal Government’s My Aged Care website, www.myagedcare.gov.au.

You can also call the aged care information line on 1800 200 422.

And, although nobody enjoys talking about it, planning for aged care is the best course of action.