Sydney residential aged care advice and consulting

Aged Care Accommodation Costs to rise

15 Sep 2022
MPIR to rise from 1st October

If you have a loved one moving into Aged Care at the moment, you may want to make some fast decisions. When someone is paying for Aged Care Accommodation, they can do so by paying a lump sum (RAD) or interest (DAP) or a combination of both.  The interest rate is fixed at the time the person becomes a permanent resident.
The current interest rate is 5.0%pa.  On the 1st October it is set to rise to 6.31%.  For somebody you enters care after 30th September and chooses to pay a portion of their cost by DAP, this could result in tens of thousands per year more in fees than if they had become permanent by 30th September.
At Zenith Aged Care we assist hundreds of clients every year in understanding the Aged care system and deciding on the best way for them to fund their ongoing care and accommodation.  Don’t try to do it alone, give us a call on 02 9525 7977 and get the expert advice that comes from nearly 20 years of experience