Aged Care Financial Assessment

The costs associated with residential aged care can be complex and difficult to work out and understand.

Having the right information about how the aged care system works can make a big difference to what you might pay for aged care, as well as the continuing financial health of your family. Unfortunately, most people simply do not have access to all the information they require, nor the time to try and make sense of it all. Senexus can promptly provide you with the advice you need.

When you use the Senexus placement service you will automatically receive an aged care financial assessment. But if you already have an aged care facility in mind, an aged care financial assessment will help you make informed decisions about a range of issues (such as whether to keep or sell the family home and how to structure your RAD in the most cost effective way for your family).

With an aged care financial assessment you will receive:

  • An estimate of all the fees that will apply to your loved one’s admission to residential aged care.
  • A clear answer on whether a RAD (refundable accommodation deposit) will need to be paid. While premium rooms generally attract a high RAD, many clients are surprised to discover that premium residential care is within their budget.
  • Easy-to-read comparison of costs for aged care homes priced at different RADs.
  • Analysis of how much RAD to pay as a lump-sum.
  • Assessment of whether entering aged care will affect your loved one’s aged pension.
  • A comparison of the impact upon aged care costs of the decision to sell, or rent, the family home.
  • General information on the options for meeting your loved one’s care and living expenses.
  • Timely completion and submission of the 28-page Centrelink or DVA Request for Asset and Income Assessment form.

When one or both members of a couple need aged care, an aged care financial assessment is an essential first step.

A thorough aged care financial assessment becomes even more critical when one, or both, members of a couple require admission to residential aged care. The timing of admission, along with the way you choose to meet aged care costs, can have a significant impact on a range of areas, such as eligibility for the pension. Timing matters, so speak with Senexus before you commit to a home, and we will make sure that there are no nasty surprises when it comes to aged care fees and costs.

Armed with an aged care financial assessment you will have all the information you need to understand the costs of your loved one’s care and determine which aged care options are affordable.

Understand the costs of aged care and maximise the financial health of your family.

I love my dad but felt like I was ready to scream. He has terrible eyesight and difficulty moving unaided, so I was going to his house every night after work to look after him. I felt disloyal even admitting that I needed a break. Senexus were great – supportive and knowledgeable, David arranged for my dad to have a week in respite care. It was the break that both of us needed.

- Charlie

Does someone you love need aged care?

Learn about the six steps to finding the right aged care home for a loved one.

Download the free aged care guide