The schedules for residential and home care subsidies and supplements which take effect from 1 July 2017 have been released.
This includes fees and charges.
The Maximum Permissible Interest Rate (MPIR) will also change effective from 1 July 2017.
The Aged Care Funding Instrument (ACFI) subsidy rates are not indexed and so have not changed, giving effect to the Government’s 6 December 2016 announcement of an indexation pause across all ACFI domains in 2017-18.
Changes effective from 1 July 2017
• Relevant (non-ACFI) subsidy and supplement rates have been updated and indexed: Schedule of aged care subsidies and supplements.
• The 2017 scheme of the viability supplement in residential care increases by an additional $2.12 per day as announced by the Minister for Aged Care on 6 December 2016.
• Schedule of Fees and Charges for Residential and Home Care – for care recipients who commenced care on or after 1 July 2014 (has been updated and indexed).
• Schedule of Fees and Charges for Pre 1 July 2014 Residents (has been updated and indexed).
• The associated Department of Human Services quarterly review of fees and charges for all care recipients will be conducted with an effective date of 1 July 2017. Care recipients and providers will receive letters advising where there is a change to a care recipient’s fees and charges or where a refund may be due.
• A consumer who started a Home Care Package before 1 July 2014 can be charged a basic daily fee of up to 17.5% of the basic rate of the single pension. This rate is $10.10 per day.
Changes to MPIR
The Maximum Permissible Interest Rate (MPIR) applicable to ‘refund periods’ for refundable deposit balances and accommodation bond balances and for accommodation prices will decrease from 5.78% to 5.73% for the period from 1 July 2017 to 30 September 2017.
The Base Interest Rate remains unchanged at 3.75%.
You can view current and past Refundable Deposit Balance and Accommodation Bond Balance Refund Interest Rates.
You will need to update the daily payment prices published on your own website and in written materials in line with the new MPIR. The daily payment prices published on My Aged Care will be updated automatically.
If you have any queries, please contact My Aged Care on 1800 200 422.