Current Fee Structure
Our Fees are determined by the Department of Health and appear online via the Schedule of resident fees and charges.
New Fee Structure
Forest Lake Lodge supports the full community and encourages all income and asset brackets to discuss your options with us. If you entered into a permanent residency with us before the 1/7/2014 you will not be affected by the new fee structure.
From the 1/7/2014 the Government has implemented changes to the way fees are charged. To determine how much you will pay you will need to add up the following fees.
Don’t worry if you are not able to afford these fees as the government will subsidize your costs. At Forest Lake Lodge we believe that all people irrespective of means should have access to quality care and services.
Basic Daily Care Fee – Changes twice a year in line with pension in March and September. Consistent with all other aged care homes, for new residents this 85% of the pension (currently $50.66/day).
Means Tested Fee - previously known as income tested fee. It is calculated based on your assets and income and can range from $0 to $214.06 per day with a cap of $63,313.28 over your lifetime. The government determines how much you pay. Please click here to calculate this amount.
Refundable Accommodation Deposits (RADs) – previously known as Bonds, are determined by the provider and/or Daily Accommodation Payment (DAPs) –previously known as an accommodation charges.
The DAP is calculated from the RAD using the Maximum Permissible Interest Rate set by the government (currently 5.96%).
E.g. a RAD of $300,000 will have a DAP of $48.99 ($300,000 x 5.96%/365 days). If you choose a combination payment, the DAP will be calculated on the outstanding amount e.g. if you pay $150,000 towards the $300,000 RAD the DAP amount will be $24.49 ($300,000 – $150,000) x 5.96% / 365 days. The resident may choose to have the DAP amount drawn down from the RAD amount.
Room values are set by the provider. Residents have the option to pay a refundable deposit or a daily fee or a combination of both. You don’t have to choose straight away, you have 28 days from the date of admission to make a decision.