Before you can move to an aged care facility, you need to have an assessment for aged care by the Aged Care Assessment Team (ACAT).
You can arrange this through your GP or hospital.
After having your assessment, you then begin to approach aged care providers and discuss options.
The results will indicate you as an “unsupported resident” if the total of your assets is above a certain threshold, or a supported resident if your assets are below. The latter is often hard to find.
Once inside an aged care facility, you will pay a daily care fee which everyone pays, which will be 85% of the single person entitlement for the aged pension.
Aged care assessment is means tested and looks at your assets and income.
The final cost for an aged care facility is the accommodation deposit which is refundable if you leave a facility.
A facility will be obliged to repay the aged care accommodation deposit within 14 days of you giving notice of vacating a care facility or within 14 days of your legal personal representative producing a grant of probate or letters of administration.
You have the choice to pay the aged care accommodation deposit in full when you enter a facility, or you may choose a periodic payment instead.
Twenty-eight days is allowed, the aged care cooling off period, from the time of you signing the admission papers to determine which approach you want to take.
There are many variables to consider to achieve the best outcome.