Interest rates for Residential Aged Care

0

Schedule of fees and charges that will take effect from 1 January 2021
An update of the schedules for residential and home care fees and charges will take effect from 1 January 2021.

View the updated Schedule of Fees and Charges for:

Services Australia’s quarterly review of fees and charges for all aged care recipients will take effect from 1 January 2021. Aged care recipients and providers will receive letters letting them know if there is a change to a care recipient’s fees and charges or if a refund may be due.

MPIR from 1 January 2021

The maximum permissible interest rate (MPIR) will decrease to 4.02% for the period from 1 January to 31 March 2021 for calculating:

  • accommodation prices

interest on refunds of accommodation lump sum balances

View current and past MPIRs.

Providers must ensure: 

  • their published accommodation prices on the My Aged Care website are up to date. If you have any questions call the My Aged Care service desk on 1800 836 799.
  • the accommodation prices published on their own website and in relevant written materials are up to date.

Department of Health

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.