NursingHomes.com.au
A Refundable Accommodation Deposit (RAD) is paid when a resident permanently enters an aged care home, and the resident has more than $193,219 in assets. The RAD should be considered as an interest free loan from the resident to the aged care provider.
The interest earned by the provider from the RAD is used to maintain their current building or to provide the capital pool to build new aged care homes for future residents.
Most families are surprised to find out that the RAD has always been negotiable between the resident and the aged care provider.
There is no set amount for a RAD - The amount of the RAD is to be agreed between the resident and the aged care provider.
RAD sizes can vary widely between aged care homes in proximity to each other in the same location and between residents in the same aged care home.
Does the level of RAD paid have an impact on the quality of care delivered? There is no direct relationship between the level of RAD that a resident pays to the level of care received once they have been admitted to the aged care home.
Are you paying an excessive RAD? NursingHomes.com.au has many years of experience and strategies in place which will benefit any family being requested to pay a RAD or "additional services" fees.
We can provide general advice and specialised expertise relating to Refundable Accomodation Deposits and Additional Service Fees.
RAD Barometer
As a result of our experience in this area, we continue to compile our "RAD barometer", which provides valuable information about the ACTUAL level of RAD that should be fairly expected to pay in a general location. This is different to the maximum RAD published on the My Aged Care website or the aged care provider's website.
Your assistance in locating a place for my mum close to where she lives and then negotiating with the aged care facility was such a relief for me and very much appreciated. Also, your advice in relation to the costs when entering low care, as well as providing referrals to applicable financial advisors, has been invaluable. Thank you. Mrs Rhondda J.
Dear Andrea, Thank you for all your help. I would not have had a hope all on my own. I hope Brian settles in well, he should do so. Thanks again. Carmel
Thank you once again. I think your service is a God Send. Have a Merry Christmas. Mrs. Booth
I cannot help but think how fortunate we have been in the way everything has worked out. Having Ada and Keith being placed together, in a very comfortable and caring facility, and especially in a location so close to family members has been ideal. Mr Ken C.
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