Higher accommodation bonds?
Posted
by DPS
Retirees planning to enter aged care homes could face higher accommodation bonds under changes to Centrelink’s asset test in September.
According to the aged care finance company Clearview, from September 20 retirees will no longer be able to exclude term allocated pensions from the aged care assets test.
This could result in a higher assessment when aged care companies are calculating the amount of accommodation bond required.
“The changes could lead to hostels and nursing homes that use the test to calculate accommodation bonds and daily care fees, imposing substantially higher charges,” Clearview technical manager, Helena Gibson, says.
