At June 2016 there were 31.9 home care places per 1,000 people over 70 years of age, with a target ratio of 45 by 2021-2022, just 3 short years away, which would require 150,000 home care packages to be available. At June 2018 there were 124,000 packages available, with 48% at Levels 1 and 2.[…]
An update to chapters 9 and 10 has been uploaded that incorporates all changes taking effect at 20 March 2019
Aged care providers still have to tender for places they can offer in new aged care facilities that they build. The number of places allocated was 13,500 (9,911 in 2017). Demand by providers in this round was lower than in previous rounds (2.8 offers per place versus 4.5 in 2016-17). The reduced demand is an[…]
The Association of Superannuation Funds of Australia recently updated its Retirement Standards Budget for 2018. The research updated the budget to contemporary living standards with prices current at April 2018. The updating has required a series of judgements on the items captured in the various bundles of goods and services included. The modest and comfortable[…]
Until now getting information on the prices charged by providers for different items has been a bit of a hit and miss activity. By 30 November 2018, however, home care providers are required to publish their current pricing information on the My Aged Care Service Finder website either as a downloadable document or via a[…]
The analysis of the operating performance of 974 aged care facilities and 24,952 home care packages for the year to 30 June 2018 by accounting firm StewartBrown reveals a continuing decline in profitability in both residential care and home care. The Aged Care Funding instrument (ACFI) government subsidy to aged care providers has been frozen[…]
When the government funded packages for home care were provided to the consumer from February 2017 rather than being allocated to the provider, they became subject to Australian Consumer Law. The Australian Competition and Consumer Commission recently outlined the rights of home care package consumers. As a consumer of home care or as a carer[…]
On 9 October 2018, the Commonwealth government the establishment of a Royal Commission into Aged Care Quality and Safety. The Commissioners are the Honourable Justice Joseph McGrath and Ms Lynelle Briggs AO. It is proposed that the Royal Commission will run for 18 months and provide its final report by 30 April 2020. Funding per[…]
Currently over $500 billion of Australia’s home equity is held by individuals and couples aged over 65, with about 70% of older Australians owning their homes outright, yet a shrinking proportion of older individuals and couples are capable of enjoying a comfortable income in retirement as they are asset rich and income poor and often[…]
The Australian government faces a growing dilemma with its Aged care policies that affects those looking for suitable aged care places. Social analysis by McCrindle Research indicates the magnitude of the problem. Longer lives mean that, for example, the over-85 age group will expand from around 480,000 persons today to a staggering 1.7 million by[…]