9 minute read
How far can a Home Care package stretch?
BY SOPHIE DOYLE How far can a home care package
STRETCH?
Ageing at home is easier to achieve with increased numbers of home care packages, but maximising your value needs an understanding of the rules and a comparison of fees.
For most people, home care is the preferred aged care option because it may allow you to age well while continuing to stay in your own home. But while it might be your preference, it is not always the best option.
Understanding how home care might work for you, needs a reality check around waiting times, adequacy of the care available and costs. Understanding fees and financial implications should be at the top of your research checklist.
What fees apply?
There are four levels of home care packages. Level 4 is the highest and gives you an annual budget up to $56,400 to spend. Some of this is your contribution, but most is paid by the government.
At just over $1,000 per week, this may seem like a lot of money, and it is, but not all of the budget is used to directly pay for your care. You first need an approved home care provider to manage the package – and they charge management fees which come off the top of your available budget. Then there are fees for the care services and perhaps staff travel time.
Providers can set their own fees, so compare fee schedules across providers. Competition and legislative changes have reduced these management fees, but you could still be using 20–25% of your package before you even start to receive any care services. per year) to spend. Depending on his assessable income, Athol pays the first $154–$597 per fortnight and the government pays the rest. Assume Athol and his family choose a provider that charges $434 per fortnight for management.
This uses 20% of the budget. If care services are charged at $70 per hour, his remaining budget may be enough to fund just under 2 hours of care per day (less if charged for travel time). The provider may also charge varying prices for peak times, weekends or night–time services.
How to evaluate your options
A good place to start is with a family discussion to discuss what support your family can provide. And then review the financial implications. And this is where we can bring our experience and expertise.
How far can the package stretch?
Let’s look at a case study for Athol who is approved for a Level 4 package. He has a budget of $2,169 per fortnight ($56,400
Contact Sophie today on 02 4325 0884 to make an appointment.
Sophie Doyle (AR#000470612) is an Aged Care Specialist at Morgans Financial Limited (Morgans AFSL 235410 / ABN 49 010 669 726); with a passion for assisting people make informed financial decisions, as they navigate their way through retirement and aged care. Disclaimer: While every care has been taken, Morgans Financial Limited makes no representations as to the accuracy or completeness of the contents. The information is of a general nature only and has been prepared without consideration of your individual objectives, financial situation or needs. Before making any decisions, you should consider the appropriateness for your personal investment objectives, financial situation or individual needs. We recommend you see a financial adviser, registered tax agent or legal adviser before making any decisions based on this information. Current at 1 February 2022.
Will you have to sell the house?
Understand the financial implications and opportunities available when transitioning a loved one into Aged Care. We can guide you through the financial steps. Ask today!
Sophie Doyle AR 000470612 Aged Care Specialist / Associate Adviser
02 4325 0884 | morgans.com.au/gosford/aged-care
Morgans Financial Limited ABN 49 010 669 726 AFSL 235410 A Participant of ASX Group A Professional Partner of the Financial Planning Association of Australia.
Never underestimate the power of a well-made decision
at Ettalong Diggers
The pandemic has certainly impacted our lives over the last two years. From the way we shop, the way we eat and the even the way we socialise. Ettalong Diggers, like many venues, was required to close their doors during the enforced government lockdowns and even on reopening, had restrictions imposed that impacted our staff, members, and guests.
These restrictions meant our live entertainment program was cancelled and our club has always had a strong presence on the Central Coast for having an extensive and coveted entertainment program.
This year the theme for Seniors Week was ‘Reconnect’ and it aptly sums up how after almost two years of isolation imposed on us, it is time to reconnect with our community.
We realise that entertainment is such an important part of our lives, and that happiness and entertainment are interrelated. Happiness is essential for our mental health and wellbeing and entertainment allows us to forget about the stress of everyday life. It is a fact that during the depression in the 1940s, the entertainment industry was one of the few industries that did not suffer... because it helps us feel good and to forget about our troubles for a while.
Now with restrictions easing and the reinstatement of live shows, music and festivals, Ettalong Diggers is looking forward to engaging with our community again and sharing some of the amazing entertainment we have secured for the rest of this year.
Late last year we brought back our free entertainment on Saturday evenings in our Brasserie and Sunday afternoons on our Terrace. This year’s Seniors’ week saw our first show return with a full house to watch the fabulous ‘Swing Sisters’.
Mother’s Day is always a special event at the club and the entertainment selected for that day is the talented and very popular Mandi Jarry. She will be performing free in the brasserie during lunch from 12pm–3pm.
Due to the popularity of our Christmas in July luncheon shows they will be held over two consecutive days. The featured artist is Nathan Foley, whose career has taken him from famous children’s entertainer to award winner solo performer.
Now that the world has reopened and international artists can tour again, Sunday July 31 we welcome Songs in the Key of Motown... the most outstanding live show in Vegas! This all–singing, all–dancing show tributes the greats of Motown. Eight international award–winning soul singers will transport you back to an era where music was life.
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Then on September 9, the brilliant Italian Tenors are back. Audiences will see them once again combine their classical roots with Neapolitan songs and their own blend of Italian pop classics.
Live entertainment fills the senses, it encourages people to communicate, participate, be spectators, engage and be involved in a form of art that is timeless and ageless. It also most definitely reconnects us with our families, friends, and community. Music can evoke wonderful memories from our past and equally give us an opportunity to share these with our children and grandchildren.
The pandemic has taught us many things, and one of those is that we can never really know or predict what the future will hold. One thing we can promise though, is that Ettalong Diggers will always endeavour to be your destination for the best in live entertainment on the Central Coast for our members and guests.
Come visit us at Ettalong Diggers – Your Destination 51 – 52 The Esplanade, Ettalong NSW 2257 Phone 4343 0111 www.ettalongdiggers.com
Songs in the Key of Motown, the most outstanding live show in Vegas, will be returning to Ettalong Diggers in 2022! This all–singing, all–dancing show tributes the greats of Motown. Eight international award winning soul singers will transport you back to the era where music was life. Hear the harmonies of The Temptations and the Four Tops. Experience the incredible choreographed dance moves of The Jackson 5 and The Supremes. Feel the soul of Stevie Wonder, Smokey Robinson and Marvin Gaye. Don’t miss Songs in the Key of Motown, a musical concert experience that is playing to sell out shows across the world.
MAY/JUNE – ISSUE 47 11
WHEN Sunday 31 July Ettalong Diggers – Your Destination 51 – 52 The Esplanade
ETTALONG NSW 2257 Ph 4343 0111 www.ettalongdiggers.com
TICKETS $45 Members $50 Non – Members TIME Doors open 3pm Commences 3.30pm
Songs in the Key of Motown, the most outstanding live show in Vegas, will be SEATING returning to Ettalong Diggers in 2022 ! This all-singing, all-dancing No reserved seating Songs in the Key of Motown, the most outstanding live show in Vegas, will be show tributes the greats of Motown. returning to Ettalong Diggers in 2022 ! This all-singing, all-dancing Eight international award winning soul singers will transport you back to an era where music was life. Hear the harmonies of The Temptations and the Four Tops. Experience the incredible choreographed dance moves
Tickets available online at www.ettalongdiggers.com or at the club’s receptionshow tributes the greats of Motown.of The Jackson 5 and The Supremes. Feel the soul of Stevie Wonder, Smokey Robinson and Marvin Gaye.
Don’t miss Songs in the Key of Motown, a musical concert experience that is playing to sell out shows around the world. Eight international award winning soul singers will transport you back to an era where music was life. Hear the harmonies of The Temptations and the Four Tops. Experience the incredible choreographed dance moves SUNDAY 31ST of The Jackson 5 and The Supremes. Feel the soul of Stevie Wonder, Smokey Robinson and Marvin Gaye. JULY Don’t miss Songs in the Key of Motown, a musical concert experience that is playing to sell out shows around the world.
Songs in the Key of Motown, the most outstanding live show in Vegas, will be returning to Ettalong Diggers in 2022 ! This all-singing, all-dancing show tributes the greats of Motown. Eight international award winning soul singers will transport you back to an era where music was life. Hear DOORS OPEN 3.00PM FOR 3.30PM SHOW the harmonies of The Temptations and the Four Tops. Experience the incredible choreographed dance moves of The Jackson 5 and The Supremes. Feel the soul of Stevie Wonder, Smokey Robinson and Marvin Gaye. No reserved seating.
