Like Care at Home there’s different fees at different homes and different fees depending on your unique situation. It’s a bit confusing.
In short there’s three ways to pay for your room.
- A Refundable Accommodation Payment or RAD – which is like a bond.
- A Daily Accommodation Payment or DAP – which is an interest rate paid daily.
- Or a combination of both a Refundable Accommodation Payment and a Daily Accommodation Payment.
Yes, it’s confusing. So if you’re unsure of how much you can afford or the best way to pay for an Aged Care Home speak to a professional. CareAbout can talk you through the options and connect your with an expert who can estimate your fees and even give you advice on how to structure your finances to make the most of government subsidies.
Read about the costs in our article Aged Care Costs 101.