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Balance Aged Care Specialists

Archive for the ‘Aged Care Advice’ Category

September 2018 Changes to Centrelink & DVA Pensions

Aged Care Advice | 20th September 2018

The Government has announced the following increases to Age Pensions, Disability Pension & the same applies to Service Pensions for DVA The maximum rate of Age, Disability & Service pension (DVA) per fortnight Basic rate Plus + Supplements Total pension Single $834.40/pf $67.80 +$14.10 $916.30/pf Couple $629.00/pf $51.10 +$10.60 $690.70/pf each $1381.40/pf combined Illness separated […]

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September 2018 Changes to Aged Care Fees

Aged Care Advice | 20th September 2018

The Government has announced the indexation to the Aged Care Fees for September 2018, only the Basic Daily Care Fee changes affect existing residents. Post July 2014 Residents, Basic Daily Care Fee (BDCF) $50.66/day Annual Limit of Means Tested Fee $27,232.65 pa Lifetime limit of Means Tested Fee $65,357.65   Pre July 2014 Residents Basic […]

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What is the difference between a Retirement Village & Aged Care

Aged Care Advice | 6th February 2018

The differences between Aged Care & Retirement Village are significant, & you should make sure you understand which one you are committing yourself to, & the financial implications before you proceed. A Retirement Village is primarily self-care, i.e. you look after yourself, & choose to make the move to a Retirement Village (if you are […]

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What is a Supported Resident?

Aged Care Advice | 27th November 2017

A supported resident in Aged Care (sometimes referred to as concessional residents), has been assessed by Centrelink or DVA as having less in assets &/or income than others, and consequently the Government will contribute even more towards their aged care, therefore saving the resident money. This is particularly useful for couples who have a home, […]

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Centrelink getting serious about those who cheat

Aged Care Advice | 9th December 2016

If you are lying to Centrelink about your assets or your income, or even thinking about it beware, they have just installed a new computer system, which is designed to more efficiently catch out cheaters by real time data matching with other Government departments (ie tax department, & other departments.) Whilst Centrelink have always been […]

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2UE Talking Lifestyle

Aged Care Advice | 18th November 2016

Every Wednesday at 9pm, our Principal Eric Hiam speaks on 2UE Talking Lifestyle 954AM about the various aspects of the Aged Care process.

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September 2016 Changes to Aged Care Fees

Aged Care Advice | 23rd September 2016

The Government has announced the indexation to the Aged Care Fees for September, only the Basic Daily Care Fee changes affect existing residents. Post July 2014 Residents, Basic Daily Care Fee (BDCF) $48.44/day Annual Limit of Means Tested Fee $26,041.09pa Lifetime limit of Means Tested Fee $62,498.66 Pre July 2014 Residents Basic Daily Care Fee […]

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September 2015 Changes to Centrelink and DVA Pensions

Aged Care Advice | 20th September 2016

The Government has announced the following increases to Age Pensions, Disability Pension & the same applies to Service Pensions for DVA The maximum rate of Age, Disability & Service pension (DVA) per fortnight Basic rate Plus + Supplements Total pension Single $788.40pf $64.50 +$14.10 $867.00pf Couple $594.30 $48.60 +$10.60 $653.50pf each $1,307pf combined Illness separated […]

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Changes to the Pension Deeming thresholds

Aged Care Advice | 10th August 2016

Centrelink & DVA apply a “deemed” rate of interest (when determining the Income Test for Pension purposes, & consequently aged care fee purposes) on investments like bank accounts, term deposits, shares, managed funds, Allocated Pensions (post Jan 2015), & loans to companies, trusts or families, & to gifts in excess of the gifting threshold). The […]

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Changes to the DAP interest rate 1/7/2016

Aged Care Advice | 21st July 2016

The interest rate charged on the DAP (Daily Accommodation Payment) is usually updated on the 1st January, & the 1st July each year, but the new rate only applies to those people who enter care permanently after these dates, & who have elected to pay their Accommodation Payment in part or in full as a […]

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