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RAD (Refundable Accommodation Deposit) is a lump-sum payment for aged care homes. It is fully refundable when the resident leaves, as long as there are no outstanding fees.
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2020 summit aged care ideas shelved

Posted
by DPS

The Government has released its response to the ideas put forward at the 2020 summit in April 2008.

It has said that it will not proceed with the specific aged care proposals which were listed as:

  • Introduce a hypothecated superannuation charge for aged care
  • Introduce a Medicare levy for aged care and for severe conditions and illnesses
  • Allow residents to contribute to high care beds

The Government’s response stated that ‘Other work is underway to meet the needs of an ageing population. The Government is committed to a quality system that meets the needs of an ageing population’.

To achieve these aims the government is providing $300 million in zero real interest loans to aged care providers to help them build or expand facilities in areas of need, and is fully funding an additional 2,000 transition care places over the next four years to 2011–12, at a total cost of $293.2 million.

This will double the number of places available for older Australians who no longer need to be in hospital but who require more time and support before returning home.

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