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If you cannot find the answer to your question, please feel free to contact us at Casey

1. What is an accommodation bond?
An accommodation bond (the bond) is a refundable amount you may be asked to pay when you enter low level care. The bond is an asset-tested contribution towards the cost of your accommodation that is agreed at the time of entry.

The bond is payable as at the date of admission to Casey and interest is charged from that date on any unpaid amount. The rate of interest is prescribed by the Commonwealth. If due to circumstances related to realization of assets etc. the resident is unable to pay the accommodation bond on entry please discuss this situation with the management staff as provision is made to meet these requirements.

Bonds may be able to be paid as a periodic payment where assets cannot be realized and this option should be discussed with management should it be applicable, prior to entry.

If you are transferring from another aged care facility to Casey Aged Care, your previously paid Accommodation Bond is transferable to Casey Aged Care.

2. Does an accommodation bond have to be paid at Casey?
Whilst individual arrangements can be discussed, in principle, an accommodation bond forms an integral part of the normal fees associated with low care services at Casey.

3. Can I contribute additional money to my accommodation bond?
At the time of entry to the facility, management may consider the option of allowing residents to contribute a higher accommodation bond. This may benefit individuals who wish to reduce the retention amount and or daily fees by offsetting their fees against the higher interest component earned by the facility. Furthermore, this decision may have an impact on the resident’s pension entitlements using the Assets Test and Income Test so we recommend that you consult your tax adviser on the best approach for your particular circumstances.

4. What is a retention amount?
The aged care home is allowed to deduct monthly amounts, called retention amounts, from the bond. The Government sets a maximum retention amount per month for up to 5 years or shorter periods should the resident leave the facility. This amount is fixed at the rate applying at your date of entry. The balance of the bond is refunded to the resident/estate or when the resident leaves the home.

5. What fees are applicable?
Since fees vary from time to time on advice from the Department of Health & Ageing (DHA), Casey will provide updated Schedules of Fees when changes occur.

Fees consist of:
Basic Daily Care Fee
and where applicable the Income Tested Fee.

The Basic Daily Care Fee and the Income Tested Fee are set by the DHA. Casey is not entitled to increase fees independently of the Department.