Strategy Text

Page 6

1.

Commence a Home Care Package

We recommend that you start a Home Care Package to help you remain in your home with the support of in-home services. There is a formal process that you need to complete with the Department of Human Services (DHS) to have your Home Care Package approved, as outlined in the diagram below. You will need to start the process by making a time with the DHS to get a care assessment that will determine the level of care you require, and by completing an income assessment form if required. We will then need to find a service to match your needs. Once your home care package is approved, you can enter into an agreement with your chosen service provider. The fee that you pay and the services you receive depend on:  

Your income test assessment as calculated by the Department of Human Services and; Your needs as determined by the Aged Care Assessment Team (ACAT) – Level 1 – 4.

If the fees from your selected provider exceed your contribution, the government will pay the balance. We estimate that you will pay a Basic Daily fee of $XXX <as well as an Income-Tested fee of $X per day>. Your total contribution is estimated to be $X per day / $X per annum.

Care assessment

Choose care provider

Home care package approved

Home care agreement

Manage Services

Benefits:      

You will be able to stay in the comfort of your own home. The Home Care package provides personal care, clinical care and support services dependant on the level of care you need. [If full age pension recipient] As you receive a full age pension, you only need to pay the Basic Daily fee for these services. You have the flexibility to choose a service provider to match your needs. [Fee payer] The annual and lifetime caps on income tested fees can help manage the fees you pay. The government gives you a list of approved services that are monitored for quality.

Points to Consider:    

 

The Home Care Package approval process can take up to 12 months or more. If you need help in the meantime, there are ad-hoc homes services available to you. The fee you pay is determined by the Department of Human Services and will reduce the income you have available for your normal living expenses. [Fee payer] You will have to pay a fee in addition to the Basic Daily Fee for the in-home services provided. [Fee payer] You must complete the Income Assessment form and submit to the Department of Human Services for assessment. If you do not, you may have to pay the maximum rate of $32.30 per day ($11,789.50 p.a.) in additional to the Basic Daily fee. All payment rates and means tested fees are updated quarterly in line with the DHS payments on the 1 January, 20 March, 1 July and 20 September. This means your fees can change quarterly. Annual caps are reviewed twice per year on 20 March and 20 September.

Additional Resources: 

My Aged Care (Government service) 1800 200 422 https://www.myagedcare.gov.au/

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Re-contribute to your Superannuation....................................................................................57

2min
page 77

Invest using a Model Portfolio.................................................................................................56

3min
page 76

Establish your Powers of Attorney...........................................................................................27

1hr
pages 38-75

Establish your Will/s................................................................................................................26

2min
page 36

Review your Will/s...................................................................................................................27

3min
page 37

Establish your Estate Plan........................................................................................................25

2min
page 34

Review your Estate Plan..........................................................................................................25

2min
page 35

Use your Home Equity to Invest..............................................................................................24

3min
page 33

Repay your Non-Deductible Debt............................................................................................24

2min
page 32

Commence a Regular Gearing Strategy...................................................................................23

3min
page 31

Increase your Loan Repayments..............................................................................................22

3min
page 30

Establish a Loan Offset account...............................................................................................22

3min
page 28

Increase the Frequency of your Loan Repayments..................................................................22

3min
page 29

Implement a Debt Recycling Strategy......................................................................................21

2min
page 27

Commence an Investment Portfolio with a Margin Lending Facility........................................20

3min
page 25

Consolidate your Debt.............................................................................................................20

3min
page 26

Apply for Rent Assistance........................................................................................................19

3min
page 24

Maintain your Pension Bonus Scheme....................................................................................18

2min
page 23

Apply for Parenting Payment...................................................................................................18

3min
page 22

Apply for Jobseeker Payment..................................................................................................17

3min
page 21

Gift $XXX to increase your Centrelink Entitlements.................................................................17

1min
page 20

Apply for Department of Veterans’ Affairs (DVA) Entitlements...............................................16

1min
page 19

Apply for a Disability Support Pension.....................................................................................15

2min
page 18

Apply for the Commonwealth Seniors Health Care Card (CSHCC)...........................................14

1min
page 17

Apply for a Carer Payment.......................................................................................................13

3min
pages 15-16

Apply for Carer’s Allowance.....................................................................................................13

2min
page 14

Cash flow monitoring...................................................................................................................10

3min
page 8

Consolidate Cash...........................................................................................................................9

2min
page 6

Term Deposit Renewal.................................................................................................................12

3min
page 11

Apply for Austudy....................................................................................................................13

2min
page 13

Apply for a Low-Income Health Care Card (LIHCC)..................................................................12

3min
page 12

Surplus Cashflow.........................................................................................................................11

2min
page 9

Term Deposit...............................................................................................................................11

1min
page 10

Establish a Budget for your Cash Flow.........................................................................................10

1min
page 7
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