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Aged Care Advice Central Coast
40 Victoria Street, East Gosford, New South Wales, Australia
About Aged Care Advice Central Coast
Welcome to Aged Care Advice Central Coast, located at 40 Victoria Street in East Gosford, Australia. We understand that navigating the Australian Aged Care system can be overwhelming, especially when it comes to the financial aspects. That's why we are here to help you make the best financial choices for your family.
When it's time to consider aged care options, it's crucial to have a good understanding of how your personal situation interacts with the existing Aged Care rules and the potential financial consequences in the short and long term. Every family's circumstances are unique, and the way your finances are structured can significantly impact the out-of-pocket cost of care.
To ensure the best outcome for your family, seeking professional financial advice is essential. Our team of aged care specialists is dedicated to providing you with peace of mind and helping you make smart financial decisions.
Let's take a look at a hypothetical scenario involving Harry and Pat, a couple who are considering moving into Residential Aged Care. The timing of their entry into care can affect the calculation of their assessable assets and income for means testing purposes. The formula used to determine the amount they contribute towards the cost of accommodation and care is based on their assets and income.
For couples like Harry and Pat, assets and income are assessed jointly, regardless of who owns them. However, there are special considerations in place for the family home depending on the family situation. If Harry and Pat enter care on the same day, they will each have 50% of the value of their former home included in their assets for means testing. On the other hand, if they enter care on separate days, the value of their home will be exempted for the first person to enter, and half of the value will be assessed against the second person.
By entering care on separate days, the first person to enter may qualify as a Low Means Resident, with some or all of their accommodation cost met by the government. This highlights the importance of timing and understanding the financial implications of aged care decisions.
At Aged Care Advice Central Coast, we are here to guide you through the complex financial aspects of aged care. Our team can provide you with a comprehensive financial assessment, taking into account your unique circumstances and goals.
You can find us at Suite 1, 36-40 Victoria Street in East Gosford, NSW 2250. If you have any questions or would like to speak with a financial planner, please don't hesitate to call us at 02 4397 4455.
Please note that depending on your assets and financial position, you may be required to pay an accommodation bond or undergo an assets assessment to determine your eligibility for assistance with aged care accommodation costs. Additionally, there are daily contributions for day-to-day living costs and accommodation costs in an aged care home, which are payable on a regular basis, similar to paying rent.
The RAD (Refundable Accommodation Deposit) and RAC (Refundable Accommodation Contribution) are lump-sum payments for accommodation costs in an aged care home. These amounts will be refunded when you leave the aged care home.
It's important to note that the information provided is of a general nature and may not take into account your specific objectives, financial situation, or needs. We recommend considering whether the information is appropriate for your particular circumstances.
Please visit us at Suite 1 Victoria Court, 36-40 Victoria Street, East Gosford, NSW 2250 for personalized assistance and guidance. We are committed to providing you with the support you need to navigate the financial complexities of aged care with confidence.
Photos of Aged Care Advice Central Coast
victoria court, Suite 1, Unit 36/40 Victoria St, East Gosford NSW 2250, Australia
Opening hours of Aged Care Advice Central Coast
Monday:
09:00 - 17:00
Tuesday:
09:00 - 17:00
Wednesday:
09:00 - 17:00
Thursday:
09:00 - 17:00
Friday:
09:00 - 17:00
Saturday:
Closed
Sunday:
Closed
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