Fees and charges levied by residential aged care services, such as Montefiore, are regulated by the Commonwealth Government and can vary depending on a number of factors, such as whether you are a pensioner or non-pensioner and your level of assets.
In general, the cost of residency is a combination of a Daily Care Fee, relating to your ongoing care, and a Refundable Accommodation Deposit (RAD), relating to the type of room you choose.
The cost of care and accommodation at Randwick ranges from $169.60 per day for a Classic Room up to $265.11 per day for a Suite. This includes all meals, laundry, cleaning, and access to our comprehensive activity program and, of course, all the nursing care you may require.
What is a Refundable Accommodation Deposit (RAD)?
Residents with sufficient assets are eligible to lodge a Refundable Accommodation Deposit with Montefiore. The payment of a Refundable Accommodation Deposit is a secure and attractive method of funding residency at Montefiore. The Commonwealth Government guarantees the refund of the RAD upon departure.
The payment of a Refundable Accommodation Deposit reduces the amount you need to pay as a Daily Accommodation Payment (DAP).
Each room has an applicable Refundable Accommodation Deposit value; (the full RAD) however, the maximum lump sum amount that Montefiore prefers upon entry is $300,000.
The Full RADs are as follows: Classic Room $850,000, Deluxe Room $950,000, Suite $1,550,000.
Below is an example of how daily rates by room type are reduced by the payment of a $300,000 RAD:
Example Randwick fee schedule
|ROOM TYPE||RAD PAYABLE AS A LUMP SUM||DAILY RATE FOLLOWING PAYMENT OF $300,000 RAD||DAILY AMOUNT PAYABLE IF NO RAD IS LODGED|
Montefiore is committed to providing quality care and accommodation to all the community, including the financially disadvantaged. Our Residential Accommodation Review Committee, in conjunction with the Foundation, will consider all applications from a resident or their family who may be eligible for this assistance.
Other fees & charges
- Extra Services or Additional Services – Our Nursing Home and Special Care (dementia) units have been awarded Extra Service Status by the Commonwealth Government. Our Hostel and Monte Terrace (dementia) units are designated as Additional Service Areas in recognition of the higher standard of service and accommodation. The Extra/Additional Service fee is $73.70 per day.
- Means-Tested Fee – If you receive income from sources other than the aged pension, and/or own assets, you may be eligible to pay a Means-Tested Fee. This is an additional Government fee and could be a maximum of approximately $250.00 per day. To obtain an estimate of this fee, Residents are advised to use the Residential Care Fee Estimator available on the myagedcare website or seek their own financial advice regarding this fee.
- The Montefiore Oral Health Action Plan Randwick (MOHAP) – An oral health levy of $1 per day is charged as part of the preventative oral care plan. For this, each resident will receive a comprehensive dental examination with one of our Montefiore dentists, and 3 scale and cleans with the dental hygienist per year.
The above information is intended to be a brief overview only. Rates are subject to change. Please contact our Residential Services team on 02 8345 9135 to discuss applicable fees and charges in greater detail.