Having finances sorted to support your future care and living needs, (and where needed, that of your spouse or partner) can give great peace of mind. Talk to an accountant or financial planner about your finances and your future care needs. Ask around for a financial planner who has aged care experience and always ask what their fees are before you start using their services.
It is helpful to understand the costs of services you might need in the future, such as community or residential care, as well as any government benefits that you or your family may be eligible for.
Many Australian or local government services require the user to contribute at least part of the cost of service. Most residential aged care services require an accommodation cost (a negotiated up-front price for a room) and your finances will need to make allowances for these types of costs.
Services Australia’s Financial Information Service (FIS) is a free service that can help you make informed financial decisions and understand the financial implications of your aged care costs. FIS staff can help you understand how different payment methods for residential care may affect your pension and aged care costs if you ever need to move into an aged care home. To find out more about FIS, or to make an appointment, call 132 300 and say “Financial Information Service” when asked why you are calling.
Financial Information Services
- Contact a trusted accountant or experienced aged care financial planner to help you plan your finances.
- Contact Services Australia’s Financial Information Service (FIS) to make informed financial decisions and understand the financial implications of your aged care costs.
