Aged Care Considerations

Aged Care Considerations

Aged Care Considerations 150 150 Martin Sherwood

Making the move into Aged Care is a tough decision for any family, but starting early and educating yourself as much as possible is crucial to not having to rush any important decisions.

The spotlight continues to shine on the Aged Care sector as the End of Financial Year comes to a close. Whilst the fundamentals around planning for aged care remains, the Royal Commission and the budget have brought about some changes that I think will impact the sector for the better.

Following the Royal Commission into Aged Care, we’ve seen the overwhelming majority of the recommendations be accepted by the government. Some of these included:

The budget also provided some good news for Aged Care. After countless enquiries, the government is finally giving both funds and focus to the sector. The key takeaway from this year’s budget was that the government intends on keeping people in their homes for longer, delaying a move to RACF.

This will be supported by a 5-year plan costing roughly $17 billion which will be borne by the government, not consumers. These changes will still need to be legislated but are a great step forward for the Aged Care sector.

Martin Sherwood is an Executive Advisor at Viridian Advisory. 

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