Outside of Parliament House today, Prime Minister (PM) Scott Morrison unveiled that this money is on top of last week's stimulus package announcement where more than $100 million was provided to the sector.
"This additional funding is focussed on those who are most vulnerable to get them the additional support so they can get access to the essential things they need, particularly through things like meals on wheels and Home Care support and other things older Australians will need going through this time," says PM Morrison.
The funds will be split between both aged care and home care services:
$234.9 million will be going towards staff retention bonuses and ensuring continuity of staff in residential and home care
$78.3 million of additional funding for continuity of workforce and supply
$26.9 million to supplement the viability of residential aged care facilities, including for the National Aboriginal and Torres Strait Islander Flexible Aged Care Program and multi-purpose services and homeless providers
$92.2 million to support home care providers and Commonwealth Home Support Programme (CHSP) providers
$12.3 million for My Aged Care services to continue supporting older Australians find the care and services they need
Additionally, the Government is recommending that older people should spend less time in the community just in case. PM Morrison recommends employing social distancing, however, older Australian's don't need to self-isolate.
PM Morrison also announced that the Federal Budget will be postponed until 6 October due to the recent economic downturn, this includes State and Territory budgets.
For more information about coronavirus, visit the Aged Care Guide's COVID-19 update page.
Do you have any questions about the coronavirus that you want answered? Tell us in the comments below or email firstname.lastname@example.org.