Fees and charges levied by residential aged care services, such as Montefiore, are regulated by the Commonwealth Government and can vary depending on a number of factors, such as whether you are a pensioner or non-pensioner and your level of assets.
In general, the cost of residency is a combination of a Daily Care Fee, relating to your ongoing care, and a Refundable Accommodation Deposit (RAD), relating to the type of room you choose.
The cost of care and accommodation at Woollahra Manor ranges from $126.30 per day for a Standard Room up to $175.86 per day for a Suite. This includes all meals, laundry, cleaning, and access to our comprehensive activity program and, of course, all the nursing care you may require.
What is a Refundable Accommodation Deposit (RAD)?
Residents with sufficient assets are eligible to lodge a Refundable Accommodation Deposit with the Home.
The payment of a Refundable Accommodation Deposit is a secure and attractive method of funding residency at Montefiore. The Commonwealth Government guarantees the refund of the RAD upon departure.
The payment of a Refundable Accommodation Deposit reduces the amount you need to pay as a Daily Accommodation Payment (DAP).
Each room has an applicable Refundable Accommodation Deposit value; (the full RAD) however, the maximum lump sum amount that Montefiore prefers upon entry is $300,000. The Full RADs are as follows: Standard Room $650,000, Deluxe Room $850,000, Suite $1,100,000.
An example of how daily rates by room type are reduced by the payment of a $300,000 RAD appears below:
Example Woollahra fee schedule
|ROOM TYPE||RAD PAYABLE AS A LUMP SUM||DAILY RATE FOLLOWING PAYMENT OF $300,000 RAD||DAILY AMOUNT PAYABLE IF NO RAD IS LODGED|
Montefiore is committed to providing quality care and accommodation to all the community, including the financially disadvantaged. Our Admissions Review Committee, in conjunction with the Foundation, will consider all applications from a resident or their family who may be eligible for this assistance.
Other fees & charges
- Extra Services or Additional Services – Montefiore Woollahra Manor is designated as an Additional Service facility. Residents at Montefiore Woollahra Manor are entitled to a higher standard of service and accommodation. The Extra/Additional Service Fee is $81.07 per day.
- Means-Tested Fee – If you receive income from sources other than the aged pension, and/or own assets, you may be eligible to pay a Means-Tested Fee. This is an additional Government fee and could be a maximum of approximately $250.00 per day. To obtain an estimate of this fee, Residents are advised to use the Residential Care Fee Estimator available on the myagedcare website, or seek their own financial advice regarding this fee.
The above information is intended to be a brief overview only. Rates are subject to change. Please contact our Residential Services team on 02 8345 9135 to discuss applicable fees and charges in greater detail.