Updated Schedules for Residential and Home Care: September 2024 Indexation
- Date of Change:
- 20 September 2024
- Takes Effect:
- 20 September 2024
What’s Happened?
The Department of Health and Aged Care released the September 2024 Aged Care Alert, which included the updated schedules for residential and home care, effective from September 20, 2024.
The Schedule of Fees and Charges includes Home Care and Residential Subsidies and Supplements.
Changes to the Maximum Permissible Interest Rate (MPIR) will increase to 8.38% for the period of 1 October to 31 December 2024. This is for calculating the following:
- Residential Care Accommodation costs
- Interest of refunds of accommodation lump sum balances
Why is this Important?
As an Approved Provider, keeping up to date with changes to the Schedule of Fees and Charges can ensure your business is claiming and budgeting for services correctly.
You will need to ensure that:
- your accommodation deposit approvals are up to date, including publishing them on My Aged Care, your website, and any published materials for your residents,
- your accommodation prices are correct and up to date, and published as mentioned above.
You must also tell your care recipients of any changes to their charges and fees and the impact on their budget.