Aged Care Overview
OVERVIEW | SPECIFICATIONS
As a result of the Living Longer Living Better reforms which came into effect on July 1st 2014, Bethsalem Care is required to publish a MAXIMUM accommodation payment on this website and also on the My Aged Care website.
Our MAXIMUM published accommodation price has been set at $450,000. We are able to negotiate with each resident an agreed accommodation payment UP TO this amount, but we cannot charge more than this amount. We welcome and encourage you to talk to our consulting staff about what you can afford to pay to cover the cost of your accommodation in our home.
The Accommodation Payment can be paid as a Refundable Accommodation Payment (a RAD) or as a Daily Accommodation Payment (a DAP). A Daily Accommodation Payment will be billed monthly in advance using the government defined Maximum Permissable Interest Rate (MPIR) to calculate an "equivalent" payment. The DAP is calculated by multiplying any outstanding RAD by the MPIR divided by 365 days in the year.
The MPIR is advised by the government and as at July 2015 is 6.15%. This is revised quarterly.
It is also possible to pay the Accommodation Payment by a combination of both a RAD and a DAP. Again the DAP will be calculated based on the outstanding amount of the RAD after a partial lump sum has been paid.
For example a $400,000 Accommodation Payment calculated as a DAP will amount to a charge of $67.40 per day billed a month in advance.
If half of the Accommodation Payment is paid as a lump sum (RAD) the outstanding balance of $200,000 will incur a Daily Payment of $33.70, after the first $200,000 has been received.
We encourage you to talk to us at Bethsalem Care so we can demonstrate how we can meet your needs and those of your loved ones.
Updated July 2015.