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In Home Care For Your Ageing Parents – Know Your Funding Options and Costs

10 Apr 2017  |
  • Home Care
Pexels photo 26670If you are currently looking into the option of getting in-home care for your ageing parent, it's important to find a trusted care provider with experienced care workers, but it's also important to understand the financial implications.

 (If you are unsure about what Home Care is, read this article first: What Is Home Care And How Is It For?)

Let's look at the costs

In-home care can generally be divided into two categories: privately-funded and Government-subsidised. Many people want the Government to pay for their parents’ care, and the government is doing its best to do this, with various programs to fund support for ageing Australians. But you also need to know that even if you get government funding it is a subsidy, meaning you still need to pay for a portion of the care. This is at least $70.70 per week, and increases depending on the individual's net worth.

Many others find that paying privately suits them better. They may only need a small level of care (say, a few hours per week) and would rather not be bothered working through the process to get Government funding. In some cases, because of the size of their income tested contribution, it makes more sense financially to source support privately.

What about when someone has higher needs?

For those with more substantial care needs, receiving a Home Care Package from the government can mean up to $50,000 in funding per year - and even with personal contributions, it is still the best financial option. Whether you decide to pay privately or through a Government subsidy, receiving care can make a huge difference in extending the number of years your ageing parent can continue living with independence and confidence.

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CarePilot is an online platform that makes it safer, smarter and simpler for Australians and their families to find, fund and manage care at home. Easy. If you would like to speak to a care manager regarding your parents current health situation and receive guidance on what preventive measures you can implement, CarePilot offers free over the phone support and advice. You can call CarePilot on 1300 108
481.

“CarePilot’s support is good for mum and me. Whilst I am away for work I have the confidence she is being well looked after.”

Craig E.