What are the aged care options?
Depending on the level of care required, which may change over time, there are a number of different accommodation options available:
- Retirement villages.
- Residential aged care facilities.
- Receiving care at home.
There’s no doubt that the decision for either you, or a loved one, to move into an aged care facility is a tough one. And, it’s complex - you need to have a good understanding of the rules, regulations and financial commitment.
Making the choice
Choosing a suitable aged care facility is an important decision. Apart from the level of care needed, there are other things you should consider:
- Location and access – is it easy to get to and is it close to family and friends?
- Accommodation, meals and routines.
- The culture as well as the level of social interaction among residents.
- What level of care you need now and in the future, particularly if you have any pre-existing health conditions.
- Costs.
How a financial planner can help
A Bridges financial planner can help you access the right information so you can make an informed decision which ultimately gives you peace of mind. They can help you understand:
- the implications to your age pension entitlements,
- the aged care costs you will be charged,
- the impact on your estate and the passing of your wealth to the next generation.