how much

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how much

I have $93,000 of assets no home, how much am i alloud to deduct from  this amount for assetment for nursing home purposes thanks Graham

agedcare101

Hi Graham,

Thanks for your question.  Based on your information we believe you would fall under the 'partially supported resident' status.  There is a minimum amount you must have available and currently that amount is $47,500.  You may not have to pay a Refundable Accommodation Deposit (RAD) but may have to make a more modest Daily Accommodation Contribution (DAC) instead (at an estimate between $15 - $20 a day).  You would still have to pay the Basic Daily Care fee – everyone does (currently $49.42).  I don’t think it’s likely you would be asked to pay a Means Tested Care fee.

If you have more question about the Combined Income and Assets Assessment, you can call the Department of Human Services on 1800 227 475.  Or you can call My Aged Care on 1800 200 422.

You can read more about the Combined Income and Assets Assessment on our website here:
https://www.agedcare101.com.au/aged-care/working-out-your-finances/the-i...

You can also see what’s asked in the actual form of the Combined Income and Assets Assessment here:
https://www.humanservices.gov.au/individuals/forms/sa457

Moving into an aged care home involves big and complex financial decisions.  If possible, we do recommend that you seek financial advice from those who specialise in Aged Care Financial Services.

We hope this helps,
The agedcare101 team

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