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Fees and charges
As a government-funded Residential Aged Care Facility, our fees and charges at Fairway Hostel are set according to the requirements as outlined on the Department of Social Services website www.myagedcare.gov.au
The specifics of each fee and charge is outlined on the web-site, however in summary, your fees and charges will include the below.
1. Basic Daily Care Fee
Currently $50.66 per day for permanent care: updated in March and September each year.
2. Means Tested Care Fee (MTCF)
This charge is based on information submitted on the form Permanent Residential Aged Care – Request for a Combined Assets and Income Assessment (SA457). This form is available on the Department website at www.myagedcare.gov.au and must be completed and submitted to Centrelink on admission or no more than 3 months before admission.
Currently this charge is capped at $26,964.71 per annum, with a lifetime cap of $64,715.36 and is reviewed twice annually.
3. Accommodation Payment
The maximum Accommodation Payment is $850,000 (as at 5/7/18).
The Accommodation Payment may be in the form of
– a RAD (Refundable Accommodation Deposit) or RAC (Refundable Accommodation Deposit for DHS assessed low asset residents); or
– a DAP (Daily Accommodation Payment) or DAC (Daily Accommodation Contribution for DHS assessed low asset residents) – calculated on the unpaid portion of the RAD/RAC at the DHS advised interest rate *applicable on admission; or
– a combination of a RAD and DAP (or RAC and DAC) as selected by the Resident, with the proviso that the maximum RAD payable cannot be more than total assessable assets less $48,500 as at 20 March, 2018.
The DAP is invoiced monthly in arrears with the balance of fees due. A DAP may be deducted from your RAD (lump sum paid) in order to meet your agreed amount of accommodation payment; this option will monthly
– reduce your refundable lump sum balance; and
– increase the calculation base for your DAP (that is, the unpaid portion of your RAD) by this reduction amount — effectively a compound interest scenario.
Fairway also accepts at least 18.2% low asset residents. Prospective low asset residents must submit the form specified in item 2 above prior to entry and include the DHS response letter with their application.
*The interest rate used in the calculation of the DAP portion of an Accommodation Payment is set by the government as at the admission date. From 1/07/18 this rate is 5.96%.
4. Accommodation Services
Fairway, as well as providing the basic lifestyle services specified in the Aged Care Act, also offers an enhanced program of additional lifestyle services for an additional daily charge.
These additional services can involve bus outings to places of interest chosen in consultation with you and other residents; visits from professional musicians and singers; access to the wellness centre; tai chi programs; indoor golf; quizzes and trivia for social, physical and cognitive wellbeing; cinema experiences; Cycling Without Age; a specialist dementia program designed to your needs just to name a few.
As part of additional services, Lifestyle staff will, in consultation with the resident and family members, regularly assess changing resident needs with a view to tailor-make a program that will maximise each person’s life potential.
5. Professional and Retail Services
– Fee for selected individual services on application – manicure, massage, art & music therapy
– Staff services on request @ $50 / hour week-days: higher fees apply on weekend& public holidays
– Telephone line rental @ $16.60 / month + call charges
– Payable directly by Residents to Service Provider — Chemist, Hairdresser, Newspaper.