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Balance Aged Care Specialists

Archive for the ‘Aged Care Financial Advice’ Category

Increasing processing errors by Centrelink is costing aged care residents more in aged care fees

Aged Care Financial Advice | 10th April 2018

We have been getting an increased number of clients coming back to us, advising that the Means Tested Fee being charged is more than we estimated it should be, or have been getting less pension than we estimated, or were not assessed as being supported residents, when they should have been & consequently they are […]

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March 2018 Changes to Centrelink & DVA Pensions

Aged Care Financial Advice | 26th March 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 $826.20pf $67.30 +$14.10 $907.60pf Couple $622.80 $50.70 +$10.60 $684.10pf each $1368.20pf combined Illness separated […]

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Is it better to pay a RAD or DAP?

Aged Care Financial Advice | 20th November 2017

A Refundable Accommodation Deposit (RAD) means you are paying for your Accommodation in Aged Care as a Lump sum. It is Government Guaranteed (so it is very safe) & fully Refundable. Whereas paying for the Accommodation as a DAP (Daily Accommodation Payment) means that you will be charged interest at a Government prescribed rate instead […]

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September 2017 Changes to Aged Care Fees

Aged Care Financial Advice | 20th September 2017

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) $49.42/day Annual Limit of Means Tested Fee $26,566.54pa Lifetime limit of Means Tested Fee $63,759.75   Pre July 2014 Residents Basic Daily Care […]

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September 2017 Changes to Centrelink & DVA Pensions

Aged Care Financial Advice | 20th September 2017

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 $814.00pf $66.30 +$14.10 $894.40pf Couple $613.60 $50.00 +$10.60 $674.20pf each $1348.40pf combined Illness […]

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Phone Trouble

Aged Care Financial Advice | 30th May 2017

Due to a fire in the Telstra exhange at Parklea, our phone lines are not working to their full capacity. If you are having trouble getting through to us, we apologise. Please call on (02) 8814-7385 or email us at info@thebalancegroup.com.au if you are unable to reach us and we will respond to you as […]

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March 2017 Changes to Aged Care Fees

Aged Care Financial Advice | 20th March 2017

The Government has announced the indexation to the Aged Care Fees for March, only the Basic Daily Care Fee changes affect existing residents. Post July 2014 Residents, Basic Daily Care Fee (BDCF) $49.07/day Annual Limit of Means Tested Fee $26,380.51pa Lifetime limit of Means Tested Fee $63,313.28   Pre July 2014 Residents Basic Daily Care […]

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March 2017 Changes to Centrelink & DVA Pensions

Aged Care Financial Advice | 20th March 2017

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 $808.30pf $65.90 +$14.10 $888.30pf Couple $609.30 $49.70 +$10.60 $669.60pf each $1339.20pf combined Illness […]

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Making Your Pension Increase

Aged Care Financial Advice | 20th March 2017

If you were one of the unlucky ones, whose pension dropped or stopped as a consequence of the changes to the assets test taper changes that came into effect on the 1st January 2017, & if you happen to be in an Aged Care facility, then there is a strong chance that your cash flow (ie […]

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Tips to Maximize your Pension

Aged Care Financial Advice | 9th March 2017

All retirees have been feeling the pinch of historically low interest rates, since the GFC, only to be compounded by changes to the Age Pension criteria, brought in by successive Governments, over the last 2 years, which have seen Age Pension entitlements also fall. There have been at least 4 changes in the last 2 […]

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