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Moving Your Loved One To Aged Care: 3 Things To Consider

Moving Your Loved One to Aged Care: 3 Things to Consider

As our parents get older, they’ll need more attention and care to help them deal with day-to-day routines. Even getting up from bed can be a chore if they have medical conditions that require daily routine maintenance. For this reason, some households opt to bring their loved ones into aged care.

Considering the Financial Consequences of Aged Care

With the numerous requirements to meet and paperwork you have to fill out, you need to be sure if this choice will benefit your elderly loved ones. Moving them into aged care is another milestone in their lives, which is why you shouldn’t make this decision hastily. Additionally, the government can also cover different costs through subsidies, depending on your situation.

Before you bring your elderly loved ones into aged care, here are three things you need to consider:

Their Household Income

Ideally, finding an aged care provider for your elderly loved ones should save you the time and stress of giving them the care they need. However, you need to look at your finances before committing to this decision.

While looking for their choice of aged care provider, they’ll need to file an income and assets assessment. This is to help the Department of Human Services determine their eligibility to waive an income-tested fee. If the resulting pension is means-tested, they may not have to file this form. Otherwise, they have to complete the form to confirm how much they have to pay, considering the income-tested fee.

Additional Fees

Besides the means-tested care fee, they may also be requested to pay accommodation contributions or other payments. These fees can be paid in full or in part, depending on their financial standing. Additionally, the government may subsidise these dues. Otherwise, they’re obligated to agree on a set price according to the respective aged care provider.

Once your elderly loved one is checked in the facility, they’ll need to pay for standard services like any tenant at a residential property. It will include specialised costs for laundry, meal delivery, and general cleaning services. This value will depend from the first day a person will stay at an aged care facility until the projected end of their stay.

Means Tested Care Fee

As mentioned above, part of signing up for aged care is to check if your loved one will be means-tested. This requires them to pay a means-tested care fee to contribute to their care. After confirming their income and assets, the next step is to confirm how much it will cost to pay for your elderly’s different needs. Part of this budget will include their regular maintenance medication and other specialised equipment or tools for their well-being.

The cost of the means-tested care fee will vary, depending on their assessed income. This is why it’s vital to accomplish their income and asset assessment form. Additionally, there are lifetime caps to this payment.  


Besides the variables you need to consider above, you should always consult your elderly if they’re comfortable with the move. Sometimes, they’ll find it difficult to adjust if they don’t feel safe in a new environment. It’s best to weigh the pros and cons of this decision and remember to choose a facility capable of taking care of them. If you’re still unsure of the feasibility of moving them into aged care, you can seek advice from accredited aged care financial advisers.

Preparing your paperwork and savings to send your elderly loved ones into aged care can be problematic. Unless you’re knowledgeable about tax subsidies and financial transactions, you’ll have a hard time projecting your expenses. If you need aged care financial advice, contact our financial experts today.

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