Five aged care steps

There are five key steps involved in making aged care arrangements and a Bridges financial planner will be there to guide you through each step.

Step 1 - Assess your needs

You will need to be assessed by the aged care assessment team (ACAT) to determine the level of care needed. There are currently two types of aged care:

  • aged care facility
  • care at home.

You should also consider the level of care needed in the future, especially if there are pre-existing conditions.

Step 2 - Research the facilities

Choosing a suitable aged care facility is an important decision. While it depends on the level of service needed there are other things that you should consider such as:

  • location and access
  • accommodation, meals and routines
  • the culture and social interaction among residents
  • fees and costs.

Step 3 - Work out the financials

While health care and service are the highest priorities, it’s also important to consider the financials.

A Bridges financial planner can help you assess the affordability by explaining not only the fees and costs but also the most effective way to pay.

The costs will depend on:

  • the level of care needed (see step 1)
  • the fees charged by the individual facility (see step 2)
  • means test to assess your ability to pay for aged care services.

The means test will take into account your financial assets as well as any income you are receiving. How much you are obliged to pay may depend on how your finances are structured – but that’s where a Bridges financial planner can help.

Step 4 – Lodge the applications

Demand for aged care is high so it’s important to lodge your application early otherwise your choices become limited as the need becomes urgent.

You may also need to lodge an application with more than one facility.

Step 5 – manage your finances

The financial obligations don’t end once you’ve entered an aged care facility. There will be ongoing care fees and costs for your accommodation as well as everyday expenses. A Bridges financial planner can provide ongoing investment advice to help make your money last.

To find out more about aged care options make an appointment with a Bridges financial planner.