Rates & Charges
All aged care homes charge a range of fees to cover the cost of care, accommodation and living expenses.
From 1 July 2014, residents entering aged care homes will have more flexibility and choice about how they pay for their accommodation
Standard Resident Contribution
At Oakwood Aged Care, all residents are asked to pay a Standard Resident Contribution fee (formerly known as a Basic Daily fee) as a contribution towards their cost of care and living expenses. The Standard Resident Contribution fee is set as 85% of the single aged care pension and is indexed every six months to coincide with the increase in the age pension.
Refundable Accommodation Deposit (RAD) and Daily Accommodation Payment (DAP)
Accommodation payments are very different from the Standard Resident Contribution fee. They are used by the aged care home as capital funding to improve the quality of the buildings and services they provide.
Residents entering Oakwood Aged Care from 1 July 2014 and who are not supported by the government, will be able to pay for their accommodation payments as a Daily Accommodation Payment (DAP), an equivalent Refundable Accommodation Deposit (RAD) or a combination of both.
The level of RAD or DAP payable will be dependent upon the room type and their ability to pay depending on their level of assets prior to entry.
If a resident decides to use a combination of RAD and DAP, the DAP can be deducted from your RAD every month.
To determine the best combination for yourself, please use the room calculator. All options and combinations can be discussed with management.
Please note that fully supported and partially supported residents will not be required to pay a RAD or DAP.
Means Tested Residential Care Fee
People with higher incomes may be asked to contribute to the cost of their care.
You may be asked to pay a Means Tested Residential Care fee in addition to the Standard Contribution fee and the RAD/DAP. The amount you pay will depend on your income and assets.
Centrelink will assess your income and assets.
If a person moves voluntarily to another room they may be charged a higher or lower price, as applicable.
If they move on a non-voluntary basis for more than 28 days, they cannot be charged a higher price that they were paying before the move, and if they move to a lower-priced room, they cannot be changed more than the price of the room they have moved into.