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Residential Aged Care Funding (Adelaide)
November 26, 2019 @ 9:30 am - 12:30 pm$370 – $430
Holding a Bachelor of Mathematics and a Graduate Diploma of Financial Planning, Andrew has many years’ experience in the financial planning industry, most recently as a Technical Services Manager. His focus at Alteris Lifestyle & Care is to ensure clients and their families receive the support they need to make confident decisions about their aged care and retirement living options. Andrew enjoys the opportunity to see the positive benefits that a high standard of financial advice provides clients both now and in the future.
Andrew holds a Professional Certificate in Self-Managed Superannuation Funds, and is a member of the Financial Planning Association, the Self-Managed Superannuation Fund Association and the Financial Services Institute of Australasia.
Aged Care Sector overview
- Financial year overview
- Forty year forward estimates to 2054-55
- Government response to aged care funding
- Industry benchmarks
Home Care brief overview
- Commonwealth Home Support Programme and Home Care Packages.
- Commonwealth funding and recipients’ contribution
Residential Care overview
Respite Care – government subsidies and residents’ contributions
Permanent Care – low means (concessional – supported) residents.
- Assessment of low means residents
- Government subsidies and residents’ contribution – on entry and in future
- Understanding RACs and DACs – strategies for residents, tips and traps for facility managers
Permanent Care – market paying residents.
- Understanding RADs, DAPs, basic daily care fee. means tested care fees & extra service or additional service fees.
- Calculation of the means tested care fee and understanding quarterly adjustments
- Rules and regulations
- How residents’ fees are assessed
- Tips and traps for facility managers
- Timing lodgements of the SA457 (Centrelink Combined Assets and Income Assessment Form) – case studies illustrating different lodgement timing scenarios
- ACFI funding
Unfunded Residential Care
- Opportunities to provide non – government subsidised care
- Current participants
The Family Home Assessment
- How it is assessed for aged care fees and age pension entitlements
- At date of entry and at future points in time
Centrelink/DVA Facts and Figures
- Assessable asset and income thresholds
- Full age pension & pension cut-offs
- Tips for increasing pension entitlements & the interaction with aged care
- Eligibility for the Commonwealth Seniors Healthcare Card
Tips & Traps for facility manager and client liaison staff
- Issues to be aware when considering a resident’s application
- Facility tours – how to increase your conversion rate from visitors to permanent residents