This can benefit people who:
- are not permitted to pay the full accommodation payment as a RAD due to the minimum permissible asset requirement
- Aged care facilities cannot accept a RAD that leaves the person with less than $48,50014
- For couples, 50% of the combined assets of the couple are measured against the $48,500 threshold. This assessment can result in the person wanting to pay a higher RAD, but being prevented from doing so as only half of the couple’s assets are included in the assessment.
- Where a person pays an additional RAD 28 days after entering aged care, the minimum permissible asset rule also does not apply
Things to be aware of:
- When determining the person assets, the market value of their former home is included
- If the person pays an additional RAD after 28 days from entering aged care, ensure they have sufficient funds to meet their expenses. If a member of a couple, consider whether the other member of the couple will require aged care funding
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