Blog #06 Fact #05 What does the amount $175,239.20 (as of September 21) mean in aged care terms?

Blog #06 FACT #05           What does the amount $175,239.20 ( as of September 2021) mean in Aged Care Terms?

This is the asset threshold (as of September 2021) a person needs to be at to be asked to pay up to $550,000 or more for accommodation in an aged care facility. The threshold applies to singles as well as each member of a couple. Depending on individual financial circumstances, a home may or may not be assessed against this asset threshold amount. This is also the amount of the current cap or ceiling if a home is to be counted. For example- a couple may have a home worth $950,000. It may be counted, or it may be exempt. If it is counted it will be capped for each member of the couple at $175,239.20
(as at September 2021)