Taking the stress out of funding aged-care

Despite Government subsidies, families must pay considerable sums for quality aged care. For most families, these costs means that they have to either sell the loved ones family home or seek some other form of finance. Sometimes both.

Dealing ad hoc with real estate agents or banks is hard enough at the best of times. But doing this whist going through the stressful process of preparing Mum and/or Dad for a permanent aged care home can be just too much.

Care360 offers “Sell with Care” and “Fund with Care” services to manage the entire process for you.

There’s no charge to you, nor do we make any money from aged-care facilities we recommend. Care360 earns a referral fee from our highly curated and experienced real estate agency and/or banking partners who help us help you secure your loved ones in the right home through the selling of the family home.

We require our real estate agent or banking partners to pass our rigid quality control checks and ensure that they meet certain service standards. All this to make sure that you get quality service from them and don’t have to endure more stress.

And for all Care360 families that use our “Sell with Care” or “Fund with Care” services, we provide “Follow with Care” service in which we update you with any changes to the quality measures of the home that you have chosen for as long as you wish, at no cost.


Fund with care

The burden of trying to arrange suitable residential aged care, more often than not, falls on family members who are ill-prepared. It is an emotional and stressful time.

There are vastly different levels of accommodation, service and quality of care. Fees vary dramatically. Below is a brief explanation to help you understand more about the costs and fees involved when trying to decide on an aged care facility


There are three main types of fees for Residential Aged Care:

Daily care fee

Daily care fee

This fee covers living costs such as meals, power and laundry etc. This is a mandatory fee set by the Federal Government and is set at 85% of the aged care pension. The fee increases twice a year in line with the aged care pension. From 20 March 2019 to 19 September 2019, the daily care fee is $51.21 per day or $716.94 per fortnight.

Means-tested fee

Means-tested fee

There may be a requirement to pay a fee of up to $245 per day dependent on your income, assets and property. The Department of Human Services calculates the amount of the means-tested care fee based on your financial information. The Federal Governments My Aged Care website has a Residential Care Fee Estimator that can give some indication as to what his fee may be.

Additional fees

Additional fees

Many facilities offer the option to pay for a more services. These may include services such as: higher quality meals, greater meal choices, higher standard of accommodation fixtures and fittings, newspaper delivery, and so on. Some homes may also charge one-off entry or exit fees or other daily fees, so it is important when deciding on the right facility that you ask about all additional fees.



Your Care360 report will include information on the RAD and DAP. These are confusing acronyms but important in understanding the ongoing costs of Aged Care.

It is very important that you understand what they are and what options you have in paying them.

  • The RAD is a bond that is based on the room type and is a lump sum payment payable when you enter the home. The balance of the deposit is refunded when you leave less any amounts you have agreed to have deducted.
  • The DAP is a daily payment contributing to the cost of your accommodation and is paid periodically i.e. fortnightly or monthly. It is calculated by multiplying the RAD by the current government interest rate and then divided by the number of days in a year. This is not a refundable payment, unless you have paid in advance and leave the aged care home.

There are three options

Available when it comes to the RAD and DAP.

Daily care fee

Paying 100% of the RAD and no DAP

remember, the balance of the RAD is refunded when you leave less the government-set rate for daily accommodation payments (DAP).

Means-tested fee

Paying 100% DAP but no RAD

that means there is no upfront payment.

Additional fees

Paying a combined payment of RAD and DAP

as negotiated with the care facility" to "which the government sets how the combinations will work so it is a direct trade-off, eg if you pay 50% of the full RAD, you will then need to pay 50% of the DAP each day thereafter. Pay 20% of the RAD and you will need to pay 80% of the DAP each day. And so on.


Our carefully selected real estate partners have years of specific experience selling family homes to fund aged-care.

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