While the Australian Government subsidises a high proportion of residential aged care costs, you may also be required to contribute towards the cost of your accommodation and care depending on your own income and assets. Fees and charges levied by residential aged care providers including Montefiore are government regulated, and vary depending on factors including whether you receive an aged pension or are a self-funded retiree.
Before you finalise your application for Montefiore Residential Care, we highly recommend that you seek independent financial advice, as well as finding more information and up-to-date Government-mandated fees and rates at My Aged Care.
In general, the cost of living at Montefiore Residential Care will be made up of a few different elements, depending on your personal financial circumstances.
See our Fee Schedules and further information below.
Basic Daily Fee
A basic daily fee, set by the Australian Government, is required to be paid by all aged care residents. This fee covers day-to-day living costs including personal care, meals, cleaning, laundry and electricity. The maximum basic daily fee is 85% of the annual single basic age pension.
The Government increases this fee slightly in March and September each year. For the current basic daily fee, see Fee Schedules below.
As an aged care resident, you have up to 28 days from the date of entry to decide how you would like to structure your Accommodation Payment.
Residents with sufficient assets are required to pay a Refundable Accommodation Deposit (RAD) to Montefiore. This is a lump-sum payment that will be refunded in full when you leave (less any fees owing). The Government guarantees the refund of your RAD upon departure.
A Daily Accommodation Payment (DAP) is a Government-mandated, rental-style daily payment. The DAP amount is determined by applying an interest calculation to the unpaid portion of the full RAD amount. Just like rent, DAP payments are not refundable when you leave the facility. When you enter care, you may be asked to pay the full DAP until you decide on your final Accommodation Payment amount. If you pay the full RAD listed for a room at Montefiore, this removes the need to pay a Daily Accommodation Payment (DAP).
A combination of a lump-sum RAD and DAP allows you to pay a Partial RAD amount, which will reduce the DAP. In this case, you can also choose to draw down your DAP payments and other costs from your RAD.
Extra/Additional Service Fees
Montefiore is approved by the Government to charge for services that exceed the minimum care and service requirements. These include upgraded ‘hotel type’ Additional Services in Hostel
and Low-Care Dementia units, and Extra Services in Nursing Home and High-Care Dementia units.
If you receive income from sources other than the age pension, and/or own assets over a certain value, you may have to pay an additional Means-Tested Fee. The Department of Human Services (Centrelink) determines the fee you may be liable to pay based on the Aged Care Income or Means (income & assets) Assessment. The Government sets the maximum fee, and an annual and lifetime cap apply.
To obtain an estimate of this fee, you should use the Residential Care Fee Estimator at myagedcare.gov.au/how-much-will-i-pay and/or seek independent financial advice. If you qualify to pay this fee, it will be applied from the date of entry into permanent residential care. The Government will advise you of the amount payable based on the outcome of your Aged Care Income or Means (income & assets) Assessment.
SPIRITUAL & CULTURAL FEE
Montefiore charges a small fee to facilitate all residents’ spiritual and cultural needs in accordance with their personal beliefs through our award-winning Spiritual and Cultural Life program.
ORAL HEALTH ACTION PLAN FEE
Available at our Randwick campus, the Montefiore Oral Health Action Plan (MOHAP) is an optional, preventative oral care plan with a levy of $1/day. For this, each resident will receive a comprehensive dental examination with one of our Montefiore dentists, and three scale-and-cleans with the dental hygienist per year.
CONCESSIONAL (SUBSIDISED) RATES
As a not-for-profit organisation, Montefiore is committed to providing quality care and accommodation to all older community members, including the financially disadvantaged. Our Residential Accommodation Review Committee, in conjunction with the Montefiore Foundation, considers applications for subsidy from or on behalf of residents who may be eligible for assistance.
If you are approved by the committee and qualify under the Aged Care Income or Means Assessment, you will be fully supported by the Australian Government and will not need to pay a RAD or any extra or additional service fees. You may be required by the Government to pay a Daily Accommodation Contribution (DAC).
If you have any questions, please contact our Admissions team:
The information on this page is intended to be a brief overview only. Rates are subject to change.