The number of residential aged care providers making a profit has decreased by 12 percentage points to just over half, the seventh Aged Care Financing Authority report shows.
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Changing the rules on the aged care means test for residents who pay by periodic payment is likely to force pensioners to sell their house or take out a reverse mortgage all for a meagre budget saving of $26 million over five years, according to aged care financial experts.
Although we have not yet seen a significant change in how residents pay their fees, we are expecting a shift in the short term and potentially a major change in the future, writes Martin Jones.
Contrary to popular views, the government’s Living Longer Living Better reforms are just what is needed to even up the return on capital for rural, regional and remote aged care providers, writes James Underwood.