Fees and Financial Information
Making the move into an aged care home is a big decision, so it’s important that you understand the different fees that are associated with living at St Luke’s Green. These fees have been set or approved by the Australian Government, who also regulate maximum daily fees and enforce limits as to how much you can be asked to pay for accommodation.
Basic Daily Care Fee
$52.25 per day
The basic daily care fee is determined by the Department of Health at roughly 85% of the full aged pension. This fee is the same in every aged care home in Australia, and is paid by everyone who resides either in respite or permanent care. Residents are required to pay this a month in advance, and the Government increases this fee twice a year in line with the age pension.
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Extra Service Fee
Up To $48.49 per day
The extra service fee is approved by the Government for each aged care home that has an extra service status. This fee takes into account the quality of accommodation and services provided.
Our extra service fee covers a wide range of things, such as: chef prepared meals, daily newspapers and magazines, a glass of wine with dinner, Foxtel in the lounge, and beautiful furnishings. The fee also incorporates our varied and supportive lifestyle program which is there to promote the physical, mental and spiritual wellbeing of our residents.
The current extra service fee for St Luke’s Green is $48.49* per day. Government approval is sought annually for changes to this fee. This daily fee is likely to increase by $4-$5 each year. This fee is payable by all respite and permanent residents.
*from 10 July 2020
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Means Tested Care Fee
This is an additional daily care fee paid by permanent residents. This fee is determined by the Government upon completing either a SA457 or SA485 form. The Department of Human Services will assess your assets and income to determine how much you contribute towards your own care. This fee is currently calculated between NIL to $28,087.41 per year. There is currently a lifetime cap of $67,409.85.
While we are waiting for Centrelink or DVA to determine your fee, we will charge a default rate of $76.95 per day from the first day of permanent care. After your first 28 days of care if we still have not received a copy of the determination from you, you will be charged the maximum means tested care fee that is currently $256.44 daily, until notification is received from Services Australia, DVA or you.
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Accommodation Fees
Your choice of 4 fee payment options
The accommodation fees start once you become a permanent resident, this is essentially the price for the room. The cost of the room will differ depending on the suite type you choose. To allow you flexibility there are four payment options to choose from.
DAP – Daily Accommodation Payment
RAD – Refundable Accommodation Deposit
Combination payment
Drawdown payment
Accommodation Payments
Suite prices vary depending on the floor, location, type and size of suite, and all accommodation payments are approved by the Government’s Aged Care Pricing Commissioner. Our Accommodation Payments range in prices from $450,000 to a maximum of $1,100,000, and can be made is a number of ways.
Below are a few examples of different priced suites to get you started. Depending on availability, the accommodation price of our available suites may be higher or lower. Please speak to our friendly sales team for more information.
Option 1
DAP
Daily Accommodation Payment
$ per day
Monthly rental style payment, called a Daily Accommodation Payment (DAP). The monthly rental payment is calculated on the price of the room, using an interest rate set by Government (currently 4.02% as of 1 January 2021) and paid monthly in advance. This payment is non-refundable.
OR
Option 2
RAD
Refundable Accommodation Deposit
$
Upfront lump sum, which is refundable upon your departure, called a Refundable Accommodation Deposit (RAD). Some homes also refer to this as a ‘Bond.’
OR
Option 3
Combination Payment
Use this helpful tool to calculate your desired combination payment. Enter the RAD amount you would like to pay and the remaining DAP payment will be calculated.
Refundable Accommodation Deposit
$lump sum
AND
Daily Accommodation Payment
$ per day
This is a combination of both, where you choose to pay a partial RAD amount and the remaining balance as a DAP.
OR
Option 4
Drawdown Payment
This option is similar to the combination option, but the DAP payment is withdrawn from your RAD amount. When you leave the aged care home, the balance of the RAD minus all DAP payments will be refunded.
Account Information
Accounts will be billed on a monthly basis in advance and direct debited from one nominated account. You or your family representative will be sent a monthly account detailing the payment information.
Independent Financial Advice
We recommend you seek independent financial advice before entering residential aged care. Below are some financial advisors specialising in aged care who you might find helpful along your aged care journey.
Brad Monk
Life Path Financial Planning
07 3219 4670
Renee Sullivan
Beacon Financial Planning
1800 232 000
Kerri Mendl
Alteris Financial Group
1300 366 932
If you’d like to discuss the fees and charges for our aged care home in more detail, please call our friendly team at St Luke’s Green, Woolloongabba today on 07 3129 9175.
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Retirement and Aged Care
at St Luke's Green
St Luke’s Green won the prestigious nettletontribe Award for Design Excellence at the 2017 Property Council of Australia’s National Retirement Living Awards, in recognition of its incorporation of innovation around a historic church.
If you’d like to learn more about living in our little village in a big city, call us today for a chat.
Contact us: 07 3129 9000
Email us: stlukesgreen@greengate.com.au
Visit us at St Luke’s Green:
43-46 Taylor Street, Woolloongabba
