Senior Moves
We place your loved one first
Senior Moves
We place your loved one first
When you begin researching residential aged care, you will come across three acronyms relating to the price of residential aged care, that are essential to understand.
The RAD and DAP is determined on the quality, location and features of the accommodation and can vary from bed to bed in the same aged care home.
If a facility wants to charge more than $550,000 for their RAD, they need to hace approval from the Aged Care Pricing Commissioner.
The DAP is calculated by multiplying the determined RAD by the current government interest rate (MPIR) and divided by the number of days in that year.
Aged Care Providers must display their accommodation prices in both RAD and DAP figures prior to charging their clients.
From the day of entering care, the new resident has 28 days to work out whether they want to pay the facility a lump sum, daily payment or some combination of the two.
Under the Living Longer, Living Better reforms, the resident must be left with a minimum asset value of 2.25 times the basic age pension at the time of entry.
That sum is subject to quarterly change, but currently it means a resident must be left with at least $51,000 if they choose to pay for their accommodation in full.
The introduction of the RAD and DAP was predicted to increase marketplace competition and broaden consumer choice.
Alongside the introduction of the RAD and DAP, a means test measuring a combination of assets and income determines how much the government will contribute to a person’s accommodation.
A person’s home is considered a part of their assets, unless a spouse or relative still lives there.
| Period | MPIR |
|---|---|
| 1/10/2021 to 31/12/2021 | 4.01% |
| 1/7/2021 to 30/09/2021 | 4.04% |
| 1/4/2021 to 30/06/2021 | 4.01% |
| 1/1/2021 to 31/03/2021 | 4.02% |
| 1/7/2020 to 31/12/2020 | 4.10% |
| 1/4/2020 to 30/6/2020 | 4.89% |
| 1/1/2020 to 31/3/2020 | 4.91% |
| 1/10/2019 to 31/12/2019 | 4.98% |
| 1/08/2019 to 30/9/2019 | 5.54% |
| 1/07/2019 to 31/7/2019 | 5.54% |
| 1/04/2019 to 30/6/2019 | 5.96% |
| 1/01/2019 to 31/03/2019 | 5.94% |
| 1/10/2018 to 31/12/2018 | 5.96% |
| 1/07/2018 to 30/09/2018 | 5.96% |
| 1/04/2018 to 30/06/2018 | 5.77% |
| 1/01/2018 to 31/03/2018 | 5.72% |
| 1/10/2017 to 31/12/2017 | 5.70% |
| 1/07/2017 to 30/09/2017 | 5.73% |
| 1/04/2017 to 30/06/2017 | 5.78% |
| 1/01/2017 to 31/03/2017 | 5.76% |
| 1/10/2016 to 31/12/2016 | 5.76% |
| 1/7/2016 to 30/09/2016 | 6.01% |
| 1/04/2016 to 30/06/2016 | 6.28% |
| 1/01/2016 to 31/03/2016 | 6.22% |
| 1/10/2015 to 31/12/2015 | 6.14% |
| 1/07/2015 to 30/09/2015 | 6.15% |
| 1/04/2015 to 30/06/2015 | 6.36% |
| 1/01/2015 to 31/03/2015 | 6.75% |
| 1/10/2014 to 31/12/2014 | 6.63% |
| 1/07/2014 to 30/09/2014 | 6.69% |
| 1/04/2014 to 30/06/2014 | 6.63% |
| 1/01/2014 to 31/03/2014 | 6.59% |
| 1/12/2013 to 31/12/2013 | 6.60% |
| 1/10/2013 to 30/11/2013 | 6.60% |
| 1/07/2013 to 30/09/2013 | 6.82% |
| 1/04/2013 to 30/06/2013 | 6.95% |
| 1/01/2013 to 31/03/2013 | 7.24% |
| 1/10/2012 to 31/12/2012 | 7.62% |
| 1/07/2012 to 30/09/2012 | 7.66% |
| 1/04/2012 to 30/06/2012 | 8.37% |
| 1/01/2012 to 31/03/2012 | 8.62% |
| 1/10/2011 to 31/12/2011 | 8.86% |
| 1/07/2011 to 30/09/2011 | 9.00% |
| 1/04/2011 to 30/06/2011 | 8.92% |
| 1/01/2011 to 31/03/2011 | 9.02% |
| 1/10/2010 to 31/12/2010 | 8.74% |
| 1/07/2010 to 30/09/2010 | 8.80% |
| 1/04/2010 to 30/06/2010 | 8.16% |
| 1/01/2010 to 31/03/2010 | 7.95% |
| 1/10/2009 to 31/12/2009 | 7.30% |
| 1/07/2009 to 30/09/2009 | 7.13% |
| 1/04/2009 to 30/06/2009 | 7.16% |
| 1/01/2009 to 31/03/2009 | 8.76% |
| 17/11/2008 to 31/12/2008 | 11.31% |
| 1/10/2008 to 16/11/2008 | 11.31% |
| 1/07/2008 to 30/09/2008 | 11.75% |
| 1/04/2008 to 30/06/2008 | 11.69% |
| 1/01/2008 to 31/03/2008 | 11.15% |
| 1/10/2007 to 31/12/2007 | 10.75% |
| 1/07/2007 to 30/09/2007 | 10.37% |
| 1/04/2007 to 30/06/2007 | 10.37% |
| 1/01/2007 to 31/03/2007 | 10.37% |
| 1/10/2006 to 31/12/2006 | 10.19% |
| 1/07/2006 to 30/09/2006 | 9.87% |
RAD / DAP Calculator - effective 1st October 2021
Select RAD Amount: $
Use the slider to enter the lump sum of the RAD
to calculate the DAP to be paid.
| % |
Lump Sum of RAD Paid : $
DAP Payment:$20.20 per day
Contact Us for more information.
Current interest rate (MPIR) is: 4.01% pa (effective 1st October 2021)
Covid-19 and the Royal Commission into Aged Care have increased awareness regarding aged care homes.
This has reinforced the benefit of seeking independent and experienced assistance when placing a loved one into an aged care home.
When you are responsible for the care of a senior loved one, the stresses and strains of everyday life are amplified. Juggling work and family with looking after an elderly relative increases the risk for caregiver role strain. https://t.co/0SDGbvxvLG pic.twitter.com/1q1TGF73oI
— Senior Moves Australia (@seniormovesaust) September 3, 2021
Ageism is a prejudice against the elderly. The term first appeared around 1969 and is defined as stereotyping or discrimination against individuals or groups based upon their elderly age. Unfortunately, there are many stigmas against the elderlyhttps://t.co/fjuuNxJtNH pic.twitter.com/HSty812Hfs
— Senior Moves Australia (@seniormovesaust) September 3, 2021
Nearly every elderly person wants to stay in the privacy and comfort of their own home for as long as possible. That’s why nearly a third of seniors don’t live in a care facility live alone, including about half of women over the age of 75.https://t.co/7PZgJGVIty pic.twitter.com/ozK09qz5Wx
— Senior Moves Australia (@seniormovesaust) September 3, 2021