The average Australian going into aged care will pay around $10,000 more after 1 July 2014 – harsher fee levels make aged care more expensive
AUSTOCK Life has calculated that people entering aged care facilities after 1 July will be up to $10,000 or worse off rather than entering such a facility in the current financial year.
“We took a view that with average assets of around $350,000 and not owning a home, an average person going into an aged care facility will be around $10,000 worse off over their stay in the facility,” said Richard Atkinson, AUSTOCK Life.
AUSTOCK Life prepared a simple case study to show how an average Australian pensioner going into aged care will be worse off after 1 July 2014.
