PRESS RELEASE: Indexation of residential and home care subsidy and supplement rates

Indexation

Indexation of residential and home care subsidy and supplement rates

An update of the schedules for residential and home care subsidies and supplements will take effect from 1 July 2018. The Maximum Permissible Interest Rate (MPIR) will change from 1 July 2018. The new rates are now available on the department’s website.

Residential Aged Care and Home Care Subsidies and Supplements

View the updated Schedule of aged care subsidies and supplements from 1 July 2018.

Schedule of Fees and Charges

View the updated Schedule of Fees and Charges that will take effect from 1 July 2018 for:

  • Residential and Home Care – for care recipients who started care on or after 1 July 2014
  • Pre 1 July 2014 Residents

The Department of Human Services quarterly review of fees and charges for all care recipients will be effective from 1 July 2018. 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.

A consumer who started a home care package before 1 July 2014 can be charged a basic daily fee of up to 17.5% of the basic rate of the single pension. This rate is $10.32 per day.

Change to MPIR from 1 July 2018

The MPIR applicable to ‘refund periods’ will increase from 5.77% to 5.96% for the period from 1 July 2018 to 30 September 2018 for:

  • refundable deposit balances and accommodation bond balances
  • accommodation prices
  • The Base Interest Rate remains unchanged at 3.75%.

View current and past Refundable Deposit Balance and Accommodation Bond Balance Refund Interest Rates.

Important note

Providers must update their published accommodation prices to reflect the new MPIR from 1 July 2018. The daily payment amounts published on the My Aged Care website will be automatically updated on 1 July 2018 using the existing published refundable deposit amounts.

Providers should update the accommodation prices published on their own website and in written materials to reflect the new MPIR from 1 July 2018.

If you have any queries, please contact My Aged Care on 1800 200 422

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