Aged care covers a range of services and support for older people who need some help with their daily living, health care, accommodation, and equipment. Aged care can be provided in the home or in a residential facility, depending on the level of care and preference of the person.
However, aged care is not a simple or straightforward matter. There are many complexities and challenges involved in accessing and managing aged care, such as:
– Understanding the different types of care and how they work: There are three main types of care: home care, residential care, and flexible care. Each type of care has different eligibility criteria, assessment processes, funding arrangements, fees and charges, and quality standards.
– Finding the right provider and service that suits your needs and preferences: There are many providers and services available in the aged care sector, but not all of them may be suitable for your situation. You need to compare different options and consider factors such as location, availability, quality, specialisation, and customer feedback.
– Navigating the complex and ever-changing rules and regulations of the government: The government funds and regulates most of the aged care services in Australia. However, the rules and regulations are often complex and change frequently. You need to keep up to date with the latest information and requirements, such as eligibility, subsidies, fees, contracts, standards, complaints, and reforms.
– Planning and budgeting for your current and future needs: Aged care can be costly and unpredictable. You need to plan ahead and budget for your current and future needs, taking into account your income, assets, expenses, entitlements, and goals. You also need to protect yourself from risks such as inflation, market volatility, or unexpected events.
These complexities can make aged care a daunting and stressful task for many older people and their families. That’s where Unbound Financial can help you with:
– Assessing your needs and preferences: We can help you determine what type of care you need and prefer based on your personal and financial circumstances. We can also help you understand the benefits and drawbacks of each type of care and how they affect your lifestyle and wellbeing.
– Finding the most suitable provider and service for you: We can help you find the best provider and service for you based on your needs and preferences. We can help you compare different options and negotiate the best terms and conditions for you. We can also help you monitor and review your provider and service regularly to ensure they meet your expectations.
– Applying for government-funded services: We can help you apply for government-funded services such as home care packages or residential care subsidies. We can help you complete the application forms, provide the required documents, answer any questions from the government assessors or providers, and follow up on the progress and outcome of your application.
– Optimising your entitlements and fees so you can protect your wealth: We can help you optimise your entitlements from the government or other sources such as Centrelink or DVA. We can also provide on ways to minimise your fees and charges from the providers or the government by reviewing your income and assets tests, tax position, pension status, or hardship provisions.
– Managing your finances effectively: We can help you manage your finances effectively by creating a personalised financial plan that suits your needs and goals. We can help you set up income streams, invest wisely, protect your assets, plan for contingencies, and achieve your desired lifestyle.
By working with Unbound Financial, you can have peace of mind that your aged care is in good hands. You can focus on enjoying your life without worrying about money. You can also benefit from our ongoing support and advice to ensure that your aged care plan remains relevant and effective.
If you are interested in finding out more about how Unbound Financial can help you with the complexities of aged care, please contact us today. We would love to hear from you and discuss your options.
Book in a complimentary meet-and-greet to discuss the next steps for your financial success